posted on Aug, 27 2015 @ 11:04 AM
This is one of those government programs that looks good on paper but never quite works as advertised, this time because of failed implementation.
What ever happened to trust but verify.
The news is a huge kick in the pants to the EU's plans of carbon reduction.
The credits may have increased emissions by 600 million tonnes.
Here is a snippet from the article..
"That’s the finding of a new report from the Stockholm Environment Institute, which investigated carbon credits used to offset greenhouse gas
emissions under a UN scheme. As one of the co-authors of the report put it, issuing these credits “was like printing money.” The BBC reports:"
"The SEI sampled 60 random projects and found a whopping 80 percent of them to be of questionable green merit. The majority of these bogus Russian and
Ukrainian offsets were used by the European Union’s Emissions Trading System (the EU ETS), a program already bogged down with problems pricing
edit on 27-8-2015 by Bluntone22
edit on 27-8-2015 by Bluntone22 because: (no reason given)
27-8-2015 by Bluntone22 because: (no reason given)