(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.
The Zipingpu experiment: Dam engineers go back to the drawing boards
(April 20, 2010) Until the deadly Wenchuan earthquake in China in 2008, no large concrete face rockfill dam (CFRD) had ever been subject to a strong, ground shaking earthquake. But that changed on May 12, 2008 when the Zipingpu hydro dam, one of the largest CFRDs in China and sitting just 17 km from the earthquake epicenter, suffered higher than anticipated seismic forces, causing major damage to its concrete face and deflecting the giant structure 180 mm downstream. A leading scientist now says the earthquake should act as a wake up call for dam builders.
Flushing it all away: Residents in Beijing caught wasting water
(April 1, 2010) Residents in drought-stricken Beijing are, literally, flushing their water resources away.
Beijing’s never-ending thirst
(April 14, 2010) Ongoing delays to the South-North Water Diversion Project will defer the delivery of one billion cubic meters of water annually over the next four years to Beijing. Now, a number of analysts in Beijing are offering suggestions on how the city should cope with its water crisis. Wang Jian And Liu Qiong, two Beijing-based water experts, say the city must ease the subsidies for water consumption to ensure that the price reflects its true cost, while implementing policies that promote the recycling of water and efficient use.
Corruption biting the hand that feeds: food aid industry facing tough questions
(April 5, 2010) The food aid industry is facing a number of scandals and criticisms that are providing fresh evidence that not only does food aid hurt Third World farmers, it is also a revenue source for corrupt politicians and terrorists.
Zipingpu and the 2008 Sichuan earthquake: The debate continues
(April 1, 2010) More scientists are joining the debate over whether China’s Wenchuan May 2008 earthquake was triggered by the Zipingpu dam.
Running on empty: Severe drought threatening China’s power sources
(March 30, 2010) The severe drought plaguing southwest China has not only left millions of people without adequate water supply, it has also dramatically reduced power production in the region.
A river will run through it: project seeks to restore the Yongding River in Beijing
(March 18, 2010) Officials in Beijing have approved a plan to rebuild the once-flowing Yongding river in the southwest corner of the city. According to reports, officials have agreed to spend 17-billion RMB ($2.48-billion) to construct an ecosystem of interconnected creeks and lakes.
Opening the books: Chinese citizens calling for greater transparency
(March 16, 2010) Ren Xinghui’s recent decision to sue China’s Ministry of Finance over the Three Gorges levy – added to electricity bills in the 1990s to help pay for the massive infrastructure project – has raised a number of eyebrows.
Beijing once again turning to Hebei to solve its water problems
(March 9, 2010) Beijing’s worsening water crisis is once again forcing its neighbouring province Hebei to sacrifice more of its dwindling reserves. According to a recent report from China Daily, Hebei is expected to open four of its reservoirs this year in an effort to help cover demand in the country’s water-starved capital.
Beijing’s mirage: A water park in a water-starved city
(March 4, 2010) As Beijing’s water crisis continues to worsen, government officials say they intend to transform the city’s famed Olympic Water Cube into a massive water park, featuring seven-story water slides and a wave machine. Operators of the stadium say the project will cost 200-million yuan ($29-million).
Foreign aid takes another blow–this time in Australia
(March 3, 2010) Criticism of the high salaries being offered to contractors working with AusAID, Austrialia’s national aid agency, is the latest example of the increased scrutiny facing aid agencies around the world. The criticism comes after a recent audit showed that a number of aid workers are earning more money than the country’s Prime Minister. And they’re doing so tax-free.
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.
Carbon markets deflating in the wake of Copenhagen
(February 22, 2010) After political leaders failed at December’s climate summit in Copenhagen to agree to a successor to the Kyoto Protocol, the price of carbon has been slowly deflating. Many investors are now wary of pouring more money into a scheme that depends on political will, rather than economic fundamentals.
Patricia Adams
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