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How do carbon markets work?

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<a href="https://ftjmedia.com/channel/BloombergDeliversBusinessAndMarketsN/video/.9OT4y6zjuZXAdOOR_2UviQ"><img src="https://ftjmediacom.cdn.ypt.me/videos/v_241105013024_vbb75/v_241105013024_vbb75.jpg?cache=17307918241732140786">How do carbon markets work?</a>

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[url=https://ftjmedia.com/channel/BloombergDeliversBusinessAndMarketsN/video/.9OT4y6zjuZXAdOOR_2UviQ][img]https://ftjmediacom.cdn.ypt.me/videos/v_241105013024_vbb75/v_241105013024_vbb75.jpg?cache=17307918241732140786[/img]How do carbon markets work?[/url]

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In theory putting a price on carbon emissions should incentivise businesses to stop polluting. So why have carbon markets failed ...