A carbon market encourages both. Whenever possible, the carbon market will encourage industries to produce less, it should always be the cheaper option. But re

A carbon market encourages both. Whenever possible, the carbon market will encourage industries to produce less, it should always be the cheaper option. But reducing carbon emissions is harder in some industries, and the carbon market gives those industries an alternative option. Also, it's impossible to reach net-zero emissions by just emitting less. Plus, the latest papers make it clear that we are far past the point were we can limit damage by simply going net-zero. We need to go massively net-negative. If we want to go net-negative, we need a robust carbon offset industry, and a carbon market is one way of encouraging growth in that industry. Besides, as far as the global environment is concerned, there is zero difference between not emitting CO2 and emitting CO2 in one place and sequestering it in another.