that is in any global carbon market it will be essential to verify that emissions are not newly created in order to profit by reducing them unfortunately the temptation to seek bogus allowances is a natural consequence of a global carbon price in a lowcost local economy in the simplest terms the fixed price of saving a ton of carbon in those countries is worth more hours of labour at a lower wage rate thus there will be a category of carbonsaving investments and technologies that are profitable only in developing countries where the tradeoff between carbon and other inputs is more favourable to emissions reductions the potential for leapfrogging beyond the current technology frontier has been much discussed but is difficult to achieve