Thursday, April 26, 2007

Investigation of Carbon Off-sets

Financial Times: "The burgeoning regulated market for carbon credits is expected to more than double in size to about $68.2bn by 2010, with the unregulated voluntary sector rising to $4bn in the same period.

The FT investigation found:

■ Widespread instances of people and organisations buying worthless credits that do not yield any reductions in carbon emissions.

■ Industrial companies profiting from doing very little – or from gaining carbon credits on the basis of efficiency gains from which they have already benefited substantially.

■ Brokers providing services of questionable or no value.

■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.

■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts."

So the carbon offsets are a fraud. Sorta like global warming. And most other liberal myths.


Amelia said...

How erm..shocking. Hah. Possibly not so much.

Jonathan said...

I couldn't agree more. Strangely enough, none of the big gun printed out the story. Surprise? not so much.