Companies and individuals rushing to go green have been spending millions on “carbon credit” projects that yield few if any environmental benefits.
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.
So says the Financial Times in London. more...
So much for a credible carbon trading system.
A Washington Times columnist, Mark Steyn, in a piece called Give the man a little carbon credit is far more vociferous, especially about Al Gore:
Al buys his carbon offsets from Generation Investment Management LLP, which is "an independent, private, owner-managed partnership established in 2004 and with offices in London and Washington, D.C." that, for a fee, will invest your money in "high-quality companies at attractive prices that will deliver superior long-term investment returns." Generation is a tax-exempt US 501(c)3. And who's the chairman and founding partner? Al Gore.
Anyone else for CO2 indulgences?
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Comment by sbiddle, on 29-Apr-2007 15:00
Carbon credits & the trading of credits is the biggest fraud the world has ever seen. I don't agree with polluting the environment - all carbon credits to is create a world where you can continue to pollute the environment providing you have the money to pay for it.
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