Tag: kyoto protocol

Carbon-Trading Scheme Undermined by Chinese Projects

(December 8, 2009) As the Copenhagen climate conference opens, the existing mechanism for carbon trading is drawing close scrutiny. The Chinese authorities’ misuse of the carbon credit scheme, CDM, has come to the surface, challenging the effectiveness of the global carbon trade in reducing greenhouse gas emissions.

Carbon credit scams add to the growing list of alleged fraud cases

(October 6, 2009) Officials in at least five European countries are investigating an international carbon credit scam considered to be worth more than $1.5 billion. According to a recent report for the Guardian, the scam was originally coordinated by gangs in Britain and Spain who bought and sold emissions allowances across borders in order to avoid paying Value Added Tax (VAT).

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.

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.

A Realistic Policy on International Carbon Offsets

(April 1, 2008) As the United States designs its strategy for regulating emissions of greenhouse gases, two central issues have emerged. One is how to limit the cost of compliance while still maintaining environmental integrity. The other is how to “engage” developing countries in serious efforts to limit emissions. Industry and economists are rightly concerned about cost control yet have found it difficult to mobilize adequate political support for control mechanisms such as a “safety valve;” they also rightly caution that currently popular ideas such as a Fed-like Carbon Board are not sufficiently fleshed out to reliably play a role akin to a safety valve.