A tokenized security is the same thing as a tokenized jpeg. Blockchain has no control over what happens outside it.
I could create a token and say it refers to my Ferrari. Obviously I don’t own a Ferrari, but what can the blockchain do about it? To ensure the token is legitimate, some trusted authority must ensure the Ferrari really exists in the physical reality. Suddenly blockchain doesn’t “eliminate the need for accountants”.
And whenever I want to sell the token, someone must ensure I still own the Ferrari. Who knows, maybe I crashed the Ferrari somewhere in the forest?
Same goes for any asset - including carbon offsets, stocks and bonds. Blockchain is completely unable to say anything about the state of the physical reality.
We still beat the same tired old drums about NFTs because if it doesn’t work for jpegs, it doesn’t work for anything.