Five areas of subsidence in Beijing

(August 4, 2009) Subsidence areas are appearing in Beijing, the result of long overexploiting the groundwater to the extent of about 100 million litres a year. Five main subsidence areas have emerged. They are already challenging city planning, as well as endangering residential conditions.

At what cost are carbon credits funding hydro projects in the developing world

(August 7, 2009) The Carbon Development Mechanism (CDM), a market-based tool developed by the UN to cut green house gas emissions, may be heralding a boon in hydro development projects in China and the developing world – and doing so at the cost of the environment and local landowners. As policy makers and environmentalists across the globe prepare for the Climate Change Conference in Copenhagen this winter, criticisms of carbon credit schemes like the CDM are begining to surface.

Carbon credit fraud in the UK

(August 6, 2009) A recent article in the Telegraph examines the rise in UK tax fraud in carbon emissions trading market. The scheme is a variation on the VAT carousel fraud, where criminals import products VAT-free from EU member states, then sell the goods in the UK with a VAT charge, only to quickly disappear without turning over the VAT charge to the UK’s customs and tax department, Her Majesty’s Revenue & Customs.

Beijing to set up fee system for renewable water

(July 31, 2009) The draft stipulated that the price of Beijing’s recycled water would be specified by the price control department of Beijing Municipal Government in accordance with relevant national provisions, and would take effect after publication. If the price of renewable water cannot make up for water supply costs, the Department of Public Finance will establish a system of subsidy.

Interview with Dambisa Moyo

(July 20, 2009) Dambisa Moyo, economist and author of Dead Aid, discussing problems of foreign aid to the developing world. Moyo believes that pouring more aid into the coffers of African governments will do nothing to promote healthy economic growth. Instead, she calls for an opening of global trade, lower tariffs and a functioning tax system.