Carbon credit market is a billion dollar industry and applying blockchain will be good for both industry.
It might further questionable political agendas and help to grow crypto markets while legitimizing blockchain technology. Aside from that it won't accomplish much.
The reason carbon credits don't work is they fail to address the real factors affecting our climate. Emissions aren't the main concern. The real issue is between 20% and 80% of the world's natural forests being cut down which greatly reduces the earth's capacity to absorb carbon. Trees function as natural carbon sinks, trapping carbon and storing it for many years.
The secondary issue is: drought. Trees absorb water from their roots and evaporate it through their leaves. This evaporated water generates rainfall. Rising occurrence of drought in the world is also linked to deforestation. If you want concrete evidence of this, deforestation of the amazon rainforest in brazil is linked to their drought issues.
The ideal policies to address climate change are: afforestation. Seed bombings. Addressing desertification.
The way policies like carbon credits are issued is also extremely disproportionate. America's business is punished far more severely than business in china, despite chinese business being vastly more polluting and environmentally damaging than american business. In that we could see political angles being revealed in how the establishment chooses to pursue issues relating to climate change.
I agree with you that deforestation is a bigger problem than emissions but money that is used to purchase those carbon credits can be used for planting new trees.
