YESSSSS! OMG YESS!! MARKETS! LETS THROW MORE MARKETS AT THE PROBLEM!!
In all seriousness, while this is better than nothing I feel as though creating a market to solve market externalities is kind of absurd. Also, who's paying Costa Rica? There's a market here so long as post-industrial nations want to allocate funds to these countries, though I do love that we're outsourcing environmentalism AND our pollution. That is a truly profound representation of the duality on man.
It's also hilarious that emissions-trading is a thing, and it's even funnier the center of it on the US is Chicago. This is a really interesting way of doing environmental regulations, but... this seems silly. This is a knee-jerk reaction and I could be totally off base here, but wouldn't it be better to just set a strict cap, fine these corporations exorbitant amounts of money, tax them for their emissions as a baseline, and then use the money generated to fund ecological restoration, and maybe offer additional farm subsidies for "green" farms/small-scale local farmers? If I'm being a silly goose let me know, but this seems unhinged.