Tag: emissions trading

How Kyoto credit scams work

(January 27, 2009) In another striking expose of carbon credit lunacy, AP reporters Joe McDonald and Charles Hanley report that a German coal-fired utility is buying “carbon credits” from a Chinese hydro dam, displacing thousands of poor farmers in the process, driving up electricity costs in Germany, and yet doing nothing for the environment.

Banks see green in carbon projects: Investing directly adds to potential for profits In emissions trading

(December 18, 2007) For financial firms such as Barclays PLC; Allianz SE’s Dresdner Kleinwort and its carbon expert, Ingo Ramming; and Morgan Stanley, the decision to get their hands dirty with carbon-reduction projects is adding a new dimension to the emerging carbon-trading business. By getting directly involved, the firms are no longer simply acting as middlemen executing trades but are sometimes flexing their own financing muscle as well.

Carbon Boondoggles

(April 26, 2007) To reduce greenhouse-gas emissions, Canada’s federal government plans to push Canadian corporations into buying carbon credits under the so-called “Clean Development Mechanism” (CDM), a system established under the Kyoto Protocol by which companies in rich countries buy “rights to pollute” from companies in poor countries. The poor-country companies, in exchange, promise to give up their own greenhouse-gas producing activities.