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Category Archives: Carbon Credit Watch
Deutsche Bank staff jailed in carbon trading fraud crackdown
(December 21, 2012) As carbon credit fraud continues to escalate, five employees at Germany’s biggest money lender have been accused of money laundering or obstruction of justice in relation to a carbon trading scheme. In related news, the UK’s Financial Services Authority is now asking anyone who has invested in carbon credits to fill in an online survey, in an effort to better illuminate the problem of fraud. Meanwhile, a new interactive map has been launched by the International Carbon Action Partnership (ICAP) and Ecofys to show the status of emissions trading schemes around the world. Continue reading
‘Trendy, green – and hard to understand’
(December 18, 2012) A police raid of a suspected carbon credit fraud ring in the U.K. uncovers how easy it is to dupe private investors with green scams. Continue reading
Posted in Carbon Credit Watch
Tagged arrests, sales scripts, U.K. carbon credit fraud
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The perverse rewards of carbon credits
(August 15, 2012) The UN’s carbon trading scheme to reduce global concentrations of greenhouse gases has provided a handful of factories in developing nations with a perverse incentive to massively increase them. Continue reading
Posted in Carbon Credit Watch
Tagged Carbon Credits, CDM, coolant gas, GHG, harmful gas, perverse incentives, sham, UN
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U.K. carbon credit tax scammers get stiff sentences
(June 19, 2012) Three men have been sentenced to lengthy prison sentences for running a carbon credit tax racket that cheated U.K. taxpayers out of 39 million pounds ($US60 million) in just 69 days. Continue reading
Posted in Carbon Credit Watch
Tagged carbon credit scams, carousel fraud, EU Emissions Trading Scheme, VAT fraud
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France orders carbon tax fraudsters to pay back millions of euros
(January 12, 2012) The first of many trials to come involving carbon trading tax-frauds lands one group in jail, with an order to pay the French state a total of 43 million euros. Continue reading
Europe’s largest emissions-related tax fraud lands six in jail
(December 21, 2011) One of the European Union’s largest probes into carbon credit tax fraud places six traders from Britain, Germany and France behind bars. Continue reading
China, EU carbon markets bailed out at Durban
(December 13, 2011) The Durban climate conference set out to save the planet, but in the end may only save China’s green energy industry and the EU’s carbon markets, both of which are in danger of freefall. The $100-billion a year Green Climate Fund, agreed to by the conference, will finance the global spread of Chinese technologies. And the EU’s unilateral decision to extend Kyoto will help prop up its faltering carbon markets. But beyond December 2012, when the current Kyoto Protocol ends, the EU will be on its own as Canada, Japan, and Russia have declared their intention to withdraw. Continue reading
China’s air pollution problem
Patricia Adams of Probe International says worse things are happening to China’s air than increased CO2 emissions: “Nitrogen oxides and mercury are also emitted when hydrocarbons are burned and those emissions are truly troubling.” Continue reading
Posted in Carbon Credit Watch, China Pollution
Tagged air pollution, air quality, carbon dioxide, China, CO2, coal, mercury, NOx
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