Thursday, May 24, 2007

Carbon Credits: Be Prepared For Continued Fraud and Scams

This report comes from a friend...... Is it any wonder companies the world over are rushing to "go green". Yes. They want green, as in your "greenbacks".

Industry caught in carbon 'smokescreen'

Companies and individuals rushing to go green have
been spending millions on "carbon credit" projects
that yield few if any environmental benefits.

A Financial Times investigation has uncovered
widespread failings in the new markets for greenhouse
gases, suggesting some organisations are paying for
emissions reductions that do not take place.

Others are meanwhile making big profits from carbon
trading for very small expenditure and in some cases
for clean-ups that they would have made anyway.

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.

The entire article here:

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