Part of the deficient thinking by all counties on this front is that carbon production isn't waste in the first place. It's simply waste you can't see and waste that isn't as easy to track as a plastic Coca-Cola bottle.
I understand and respect your point of view on waste. I don't respect how governments and corporations skew their data by simplifying the picture by categorically separating intertwined concepts instead of as part of the carbon cycle as a whole.
No problems with carbon markets as a concept. Unless markets start selling the equivalent of carbon CDOs. Or countries swapping credits and portfolio wrangling to min-max their path to netzero.