Did You Know...

   

Report: U.N. wasting billions on carbon offset scam

Share
By Michelle Malkin  •  May 27, 2008 10:15 AM

The U.N. wasting money? This is, of course, no surprise coming from the same ninnies who brought the world the oil-for-food debacle and whose idea of humanitarian aid is sending condoms to cyclone victims. But I digress. The Guardian reports on the latest mass squandering of U.N. funds on the carbon offset scam (hat tip – Sweetness and Light):

Billions of pounds are being wasted in paying industries in developing countries to reduce climate change emissions, according to two analyses of the UN’s carbon offsetting programme.

Leading academics and watchdog groups allege that the UN’s main offset fund is being routinely abused by chemical, wind, gas and hydro companies who are claiming emission reduction credits for projects that should not qualify. The result is that no genuine pollution cuts are being made, undermining assurances by the UK government and others that carbon markets are dramatically reducing greenhouse gases, the researchers say.

The criticism centres on the UN’s clean development mechanism (CDM), an international system established by the Kyoto process that allows rich countries to meet emissions targets by funding clean energy projects in developing nations.

Credits from the project are being bought by European companies and governments who are unable to meet their carbon reduction targets.

The market for CDM credits is growing fast. At present it is worth nearly $20bn a year, but this is expected to grow to over $100bn within four years. More than 1,000 projects have so far been approved, and 2,000 more are making their way through the process.

A working paper from two senior Stanford University academics examined more than 3,000 projects applying for or already granted up to $10bn of credits from the UN’s CDM funds over the next four years, and concluded that the majority should not be considered for assistance. “They would be built anyway,” says David Victor, law professor at the Californian university. “It looks like between one and two thirds of all the total CDM offsets do not represent actual emission cuts.”

Carbon debits, anyone?

***

What does John McCain, whose eco-policies support the carbon offset scam, have to say about this?

Ask him.

But remember: No points for you!

***

Related: Coming soon…carbon ration cards?

blog comments powered by Disqus

Going green: Obama and Bill Nye’s Earth Day fuel-fry cost taxpayers a cool million

June 24, 2015 09:53 PM by Doug Powers

billnye

A small price to pay for hypocrisy of this caliber

Holy hypocrisy and hot air

June 24, 2015 08:11 AM by Michelle Malkin

EPA chief wants to help ‘climate deniers’ be ‘normal’

June 24, 2015 07:58 AM by Doug Powers

shock1

Help her, help YOU

Friday idiocy dump: Obama admin says EPA’s new truck emission regs will make shipping things totally cheaper

June 19, 2015 02:36 PM by Doug Powers

crazy

The “E” in EPA doesn’t stand for “economics”

G7 agrees to control earth’s temperature but remains split on if Superman could beat up Batman

June 9, 2015 10:25 AM by Doug Powers

g7

The ‘Mercury’ Seven


Categories: Al Gore, Barack Obama, Enviro-nitwits, global warming

Follow me on Twitter Follow me on Facebook