We develop and implement a new method for identifying wasted subsidies, and use it to provide systematic evidence on the misallocation of carbon offsets in the Clean Development Mechanism - the world's largest carbon offset program. Using newly constructed data on the locations and...

Because forests play a critical role in the global carbon cycle, the international community is actively pursuing policies and programs to conserve and increase the amount of carbon stored in forests. As the international community moves closer to an agreement on terrestrial carbon...