You're both right. > This is correct, and I think works as intended. Yes, it is working as intended; the buyer isn't liable. I guess this could still accompli

You're both right. > This is correct, and I think works as intended. Yes, it is working as intended; the buyer isn't liable. I guess this could still accomplish the goal of limiting emissions if you had effective outside policing of the seller side. I don't think we do and so the whole thing isn't working as intended. If you made the buyer liable, as well, it would give them an incentive to validate claims, effectively policing the issue internally. I think forging new credits is just inherently prone to fraud. I'd either just not permit it, or limit trading such credits very strictly. For instance, have a government subsidiary be the only valid buyer and auditor of such certificates (after which they enter general circulation).