Category: 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.

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.