IF YOU can’t pay the interest on your debts, an IOU isn’t going to be enough to save you from bankruptcy.
That’s the problem with the succession of net zero commitments emerging from companies and governments. The carbon emissions generated by our current industrial and agricultural systems are going to lead to a disaster far worse than insolvency without vigorous efforts to reduce them. If promises to offset them with carbon-absorbing activities are to be worth anything, they’re going to need to be more than aspirational words on paper.