Carbon Credit Investigation
From FT.com, an article about the carbon-credit scam.
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.
Even without investigations like this, isn’t it obvious that the carbon-credit industry is a joke? If emitting carbon dioxide hurts the environment, why would planting trees hours later or investing in “greener” energy sources fix that damage?
Tags: [carbon credits, carbon dioxide, carbon emissions]