What are the disadvantages of carbon trading?

I'd like to pose a question regarding the drawbacks of carbon trading. While it's seen as a potential solution to mitigate climate change, are there any significant disadvantages we should be aware of? For instance, does it lead to unfair distribution of costs and benefits among nations or industries? Are there any potential market distortions or inefficiencies that may arise from this system? Additionally, how does it impact long-term environmental goals and sustainability efforts? I'm curious to understand the nuances and potential pitfalls of carbon trading as a means to address climate change.