The Missing Chain of Evidence in Forest Carbon Credits

Every financial instrument points to something physical. The forest carbon credit market has no chain of evidence. A deed points to a building. A gold certificate points to a bar. A carbon credit points to a calculation. The calculation points to a model. The model points to an area where trees probably exist. Probably. No specific tree is linked to any specific credit. Every other financial market built this link. Carbon never did. The courts are starting to ask why.