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[Nickbat]

What a surprise eh?

"Seven arrests in suspected £38m carbon credit fraud"

http://www.telegraph.co.uk/finance/markets/6057263/Seven-arrests-in-suspected-38m-carbon-credit-fraud.html

Of course they knew about this back in 2007:

"Francis Sullivan, environment adviser at HSBC, the UK’s biggest bank that went carbon-neutral in 2005, said he found “serious credibility concerns” in the offsetting market after evaluating it for several months.

“The police, the fraud squad and trading standards need to be looking into this. Otherwise people will lose faith in it,” he said."

http://www.ft.com/cms/s/0/48e334ce-f355-11db-9845-000b5df10621.html?nclick_check=1

I never had any faith in from the start. Wait for the financial fall out when it collapses. 

[STMO999]

If I'm ever feeling a bit down, I just read one of Nick's posts and, hey presto, I feel suicidal.

[Omegadoha, Desert Member]

Something like that was always open to abuse.  :-?

[Dishevelled Den]

What a surprise eh?

"Seven arrests in suspected £38m carbon credit fraud"

http://www.telegraph.co.uk/finance/markets/6057263/Seven-arrests-in-suspected-38m-carbon-credit-fraud.html

Of course they knew about this back in 2007:

"Francis Sullivan, environment adviser at HSBC, the UK’s biggest bank that went carbon-neutral in 2005, said he found “serious credibility concerns” in the offsetting market after evaluating it for several months.

“The police, the fraud squad and trading standards need to be looking into this. Otherwise people will lose faith in it,” he said."

http://www.ft.com/cms/s/0/48e334ce-f355-11db-9845-000b5df10621.html?nclick_check=1

I never had any faith in from the start. Wait for the financial fall out when it collapses. 

Isn't human nature wonderful - create a system ripe for abuse and suddenly become concerned when that system is exploited by the wide-boys who helped design and implement it.

It displays a very impressive symmetry - nay - mendacious elegance

[Banjax]

i love this paragraph nickbat:

"Some companies are benefiting by asking “green” consumers to pay them for cleaning up their own pollution. For instance, DuPont, the chemicals company, invites consumers to pay $4 to eliminate a tonne of carbon dioxide from its plant in Kentucky that produces a potent greenhouse gas called HFC-23. But the equipment required to reduce such gases is relatively cheap. DuPont refused to comment and declined to specify its earnings from the project, saying it was at too early a stage to discuss."


gotta love those big chemical firms taking the P

getting the green suckers to fork out to clean up their mess!!! genius!!!

luckily i've never subscribed to this carbon-neutral stuff - way too little - way too late............and this kind of story just puts people off doing what they can, trust me, planting a few trees in the forest is like putting a sticking plaster on your arm to cure cancer anyway - so no wonder corporations take the mick - they'll grab what they can from whoever they can