Category: Carbon Credit Watch

Preoccupation with climate change harming efforts to control malaria

(May 20, 2010) Global warming is all-but irrelevant to the spread of malaria, according to a study released today in Nature. In contrast, global warming policies based on the belief that global warming promotes malaria are harming efforts to eradicate malaria.

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Power taken from the people: UN carbon scheme threatens to ‘recentralize’ forest governance, spelling doom for forest ecologies

(May 18, 2010) A carbon emissions program created by the United Nations and financed by the UN and development institutions may strip forest use and management from citizens in the developing world, writes Brady Yauch.

Australia won’t cap and trade

(April 27, 2010) Seeing countries around the world back away from their climate change commitments, and seeing his own electoral support crumble, Australian Prime Minister Kevin Rudd announced today that Australia will be shelving its cap and trade program for at least three years, until after the next election.

Coming soon to a carbon market near you: regulation and corruption

(April 27, 2010) When regulators created Europe’s carbon market, it appears that regulating it wasn’t at the top of their agenda. But now, after several scandals have helped to bring the carbon market to a standstill and highlight its susceptibility to fraud, one of the carbon market’s biggest players – Barclays Capital – says it’s time for better regulation.

Carbon offset companies: the new snake oil salesmen?

(April 22, 2010) Buyers of voluntary carbon credits take note: you might be a victim of environmental fraud. A recent investigation by the Christian Science Monitor (CSM) and the New England Centre for Investigative Reporting (NECIR) found that the burgeoning $700-million market for voluntary carbon credits has been selling credits backed by empty promises rather than tangible environmental benefits.

Gasping for air: Carbon markets stumble, again

(April 13, 2010) To save the planet from man-made global warming, the EU created a cap-and-trade system under which polluters can buy ever- diminishing rights to emit CO2. That “market,” created by regulatory fiat to satisfy the Kyoto Protocol, has been up and running since 2006. But last month, Hungary brought Europe’s carbon market to its knees. How? It sold “used” or “spent” carbon credits that found their way back onto the market, casting doubt on the authenticity of all credits.

Another alleged scam unearthed in the carbon markets

(March 30 , 2010) Carbon markets are again facing allegations of a scam involving the trading of carbon credits. Reuters reports the Australian company WesternField Holdings Inc. has been accused of defrauding investors down under of A$3.5 million ($3.2 million) through a telemarketing swindle. Although blacklisted by the country’s securities regulator, the firm continues to operate.

The great carbon con

(February 23, 2010) Optimists say the carbon market could one day be worth as much as $2-3 trillion dollars if countries like the United States implement a legally-binding cap-and-trade system. But those numbers may be wildly optimistic in the wake of the scandals involving scientists and research centres supporting climate change and the recent political back-tracking on implementing cap-and-trade schemes. More realistically, the carbon market is struggling just to stay relevant.