Unquestionably. What they ultimately do is reward the unproductive for their great virtue of being unproductive.
If the purpose was simply to reduce the amount of CO2 produced, then governments would agree to a common tax: x number of dollars per metric ton of CO2, period. Instead of that, the money transfer occurs between different entities. This rewards countries that aren't capable of significant CO2 creation, CO2 creation being a signal of a first-world, productive country.
Reducing carbon is not being productive? Isn't it saving the world and whatnot? As long as care is taken when creating offset credits. Like, don't give someone a credit for not buying a hummer. But if they buy an electric car.. or make one.. why not?
If they agreed to a single common tax for carbon creation it would still end up as a transfer from high carbon producing countries to lesser ones. They wouldn't just burn the money collected or something, it would be redistributed. So the developed world would end up shouldering most of the cost. In my view that is only fair and natural. If the US had agreed to Koyoto we would probably be close to negotiating that very situation about now.
If the purpose was simply to reduce the amount of CO2 produced, then governments would agree to a common tax: x number of dollars per metric ton of CO2, period. Instead of that, the money transfer occurs between different entities. This rewards countries that aren't capable of significant CO2 creation, CO2 creation being a signal of a first-world, productive country.