ClimateGate news

Wednesday, April 25, 2007

Carbon offset swindle

Oh, what a surprise...

A Financial Times investigation has uncovered widespread failings in the new markets for greenhouse gases, suggesting some organisations are paying for emissions reductions that do not take place. (...)

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.


Zookeeper said...

...and when one buys carbon offsets that are actually used for reforestation, one is contributing to atmospheric warming due to the reduced albedo of forest cover versus grassland cover. Hardly scientific; if warming was truly the problem we should be getting credits for painting all our roofing and our parking lots white, not for darkening the earth's surface.

At its heart, this is about carbon in the economy, not about warming. Some won't be happy until as individuals we emit no CO2. Clinically, this state is often referred to as "deceased".

In the good old days, feminists hated men for what they represented. Now, environmentalists hate humans, for the same reason.

John Nicklin said...

Nothing that comes from the alarmists has anything to do with global warming as threat worse than terrorism. Its all about control of the economy and making sure that wealth resides where it should. Carbon Offsets are just the latest fad to get that money flowing the right way.

Should anyone be shocked at the findings presented by the FT? Only if you are incapable of thinking through the process rationally.