"They found the smoking gun," says Michael Wara, a professor at Stanford Law School.

斯坦福法律学院教授Michael Wara说，“他们发现了确凿证据”。

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As a result, the American offset market would be 20-50 times larger than the existing CDM market, says Mr Wara. This could pose problems.

瓦拉说，其结果是美国补偿市场规模将是现在的CDM市场的20 - 50倍，可能引发诸多问题。

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In fact, Michael Wara of Stanford University calculates that the credits from cleaning up refrigerant production are twice as valuable as the refrigerants themselves.

ECONOMIST: Climate change

But in the meantime, there is evidence that factories are ramping up production of HFC-22 in order to boost emissions of HFC-23, so that they can make windfall profits from cutting back on HFC-23 later and selling the emission-reduction credits, says Michael Wara of Stanford University.

ECONOMIST: The treaties that pay you to pollute