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Summary:

WWF, the World Wildlife Fund, released a report this week claiming that one-fifth of all United Nations carbon credits are going to projects that might actually be increasing emissions. Through the Clean Development Mechanism (CDM), a provision in the Kyoto Protocol that encourages developed nations to […]

WWF, the World Wildlife Fund, released a report this week claiming that one-fifth of all United Nations carbon credits are going to projects that might actually be increasing emissions. Through the Clean Development Mechanism (CDM), a provision in the Kyoto Protocol that encourages developed nations to share clean technologies with the developing world, countries can earn certified emissions reduction credits (CERs) by investing in clean energy projects. The WWF report claims that one in five such credits go to projects that would have happened anyway, allowing rich countries to pollute more.

The WWF specifically charges the EU, the world’s largest carbon market following its 2005 launch of the European Emissions Trading Scheme, with fixing the CDM. The developing global carbon market is expected to double in value this year, to $70 billion, and the World Bank estimates that the CDM market alone was worth $5 billion in 2006, Reuters reports. If the EU wants to continue to build global confidence in its carbon market, ill-defined programs like the CDM cannot be allowed to give massively polluting nations and companies such wiggle room.

The report comes a week before the U.N. Climate Change Conference in Bali, where the WWF is hopeful that countries will seriously consider their recommendations in the hopes of making real reductions in global greenhouse gas emissions. We’ll see.

  1. Yeah , this may be the greatest scam since the flea circus. P.T. Barnum knew to mechanize the trapeze and other parts . General Electric and the others know that the best wat to solve the problem of global warming , without public outcry , is to just be sooo nice and obedient. They already paid a truckload of cash to lobby for their solution , i.e. credts , so now they can legitimately claim that they have already saved us all. Whoa , now I can stop taking my alergy medicine because my lungs are being saved from ai rpollution by , of all people , corporate braintrusts…..these ideas are not sollutions. Sad.

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  2. [...] nations to offset their own emissions by investing in clean technologies in developing nations, came under fire last week for allegedly increasing emissions. Still, a cap-and-trade system effectively eliminated emissions [...]

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  3. Hope this begins to shed light on the global warming to global redistribution of wealth scam that is going on.

    Give trilllions to UN huh, cause they really know how to manage money?

    The chicken litttle globalists have tried this strategy at least 3 times in the last 50 years. Once it was cooling, then cooling and warming, now warming – each time about money and liberty that we give away for the sake of the planet, but really for the sake of the con-artists.

    Its a hoax folks.

    ronpaul08.com

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  4. Andrew T. Fielding Friday, December 14, 2007

    The actual problem with the Carbon Market to date lies in the inability to properly design the underlying C&T. As for integrity of most Offset Projects (CDM/JI) – the real problem is not the integrity of the actual reductions – the problem is in the CDM Executive Board. Its constant revision, non scientific analysis, and a general disregard for commercial markets has rewarded non sustainable projects and destroyed other, more sustainable projects. I can only hope that the US follows CCAR’s lead in Project Offset Standards.

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  5. [...] problem led the World Wildlife Fund to accuse a full fifth of all U.N. carbon credits to be bogus. Hopefully the F.T.C. will offer verification solutions and provide a body of standards that could [...]

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  6. [...] carbon market as well. Around the same time Congress was purchasing these offsets, the World Wildlife Fund released a report denouncing 20 percent of the UN’s certified emissions reduction credits, as facilitated [...]

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  7. Looks like Al Gore has created a new way to make money for some, at the expense of most of us. What in hell is this about? You can pollute all you want, and pay for it? Well that makes sense to the rich, and the corporations I suppose. I see it working into a new tax, just for being alive on the planet. Who will the beneficiaries be? Certainly not the general population. Be afraid, very afraid. This is just a scam, and will eventually be a religion if Al Gore has his way.

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  8. Duh, what can you expect from the likes of Al Gore

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  9. [...] is the same issue the World Wildlife Foundation raised months when they released a report calling alleging 20 percent of the CDM offsets are [...]

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  10. [...] question whether carbon offsets projects are actually facilitating new carbon abatement, and the World Wildlife Fund released a report last year calling 20 percent of the UN’s certified emissions reduction credits, as [...]

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