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As the car industry’s largest hybrid pusher, Toyota says it is better positioned to just buy credits to close the EPA gap rather than “waste” money on BEVs, its CEO said.
Essentially companies that pollute over certain threshold pay money (buy carbon credits) that then goes into non-profits compensating for those emissions by saving the environment, like planting trees and such.
The system is widely criticized for being very flawed and allowing all sorts of shenanigans and manipilations, as those “carbon credits” are sold at competitive pricing, fostering projects with questionable calculations.
Essentially companies that pollute over certain threshold pay money (buy carbon credits) that then goes into non-profits compensating for those emissions by saving the environment, like planting trees and such.
The system is widely criticized for being very flawed and allowing all sorts of shenanigans and manipilations, as those “carbon credits” are sold at competitive pricing, fostering projects with questionable calculations.