Carbon credit smokescreen

Financial Times reports under the headline Carbon trading schemes often not so green that there are

  • 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 credits’ true value.
  • 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.

Read the story here, also this story by Fiona Harvey Beware the carbon offsetting cowboys.

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