6. It rewards polluters

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Previous: 5. It’s voluntary so can’t guarantee results

Not only does it not penalize polluters, the Fund actually rewards them if they slightly reduce their emissions intensity. As those reductions are unlikely to be meaningful (as discussed in points 7-12), in effect this is a financial reward for the bad behaviour of fossil fuel industries over the last 25 years (a period when harm from emissions was foreseeable), and thus a perverse incentive for industries to behave the same way in future.

Next: 7. It’s designed to cut emissions intensity, not absolute emissions

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