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CARBON CRISIS
The UN cracks down on warmenist carbon barons:
Bruce Usher, the New York-based chief executive of EcoSecurities, says the company’s projects are environmentally legitimate. Last November, largely in response to the U.N. crackdown, EcoSecurities said it was writing off a chunk of the carbon credits it had promised the market it would deliver. Since then, the company’s shares, traded on the London Stock Exchange’s AIM index, have fallen 67%.
Doesn’t sound very ... sustainable.
“There is a high incentive” for companies to put together environmentally questionable carbon-credit projects, “because there is a lot of money that can be earned,” [the UN’s Kai-Uwe Barani] Schmidt said. “People are getting more inventive, so it’s getting harder to detect the black sheep.”
Should be easy; they’re the ones all covered in carbon. Further on this from the WSJ’s Jeffrey Ball.
(Via Pup’s Cider potentate Rich Stadnik)
A leading environment group has aligned itself with the coal industry to push the case for carbon storage technology, in a move that has split the green movement ...
[The World Wildlife Fund’s] move opened a rift between WWF and other green groups, with a Greenpeace spokesman saying the group was deeply disappointed that WWF was taking a “coal industry position”.
They couldn’t deliver the carbon credits? I’m having a hard time imagining what a carbon credit might look like.
A car rusting in the front yard instead of driving on the road? A mule powering a water pump? A fallow field?
Or a piece of paper that says “One Carbon Credit” on it?
Posted by tim maguire on 2008 04 14 at 01:22 PM • permalinkRealistCynic that I am, I read the update and thought to myself, “I’ll bet that WWF is hoping for a bigger piece of the pie than the rest of the groups.” Or maybe the coal industry simply outbid Greenpeace.Any takers on that bet?
Posted by The_Real_JeffS on 2008 04 14 at 02:49 PM • permalinkThis is just the UN setting themselves up as the “honest broker” while still sourcing many of its credits from Chaina.
The UN is in charge of issuing the “Non-renewable certificates” which carbon crdits are tracked by. About as effective as sticking Don Juan as virginity inspector at the Catholic girls high school Id imagine.Posted by thefrollickingmole on 2008 04 14 at 07:09 PM • permalinkABBA said Money, money, money
Must be funny
In the rich man’s worldDire said Money for Nothing
Now look at them yo-yo’s that’s the way you do it
You play the guitar on the MTV
That ain’t workin’ that’s the way you do it
Money for nothin’ and chicks for free
Now that ain’t workin’ that’s the way you do itSo why not Greens get some like the UN?
As song goesAnd I don’t give a damn about a greenback dollar
Spend it fast as a canPosted by stackja1945 on 2008 04 14 at 10:57 PM • permalinkSounds like the UN is chapped it’s not taking its usual cut. They see a new oil for palaces scheme to help them return to their accustomed lifestyles.
Posted by Tommy Shanks on 2008 04 15 at 01:07 AM • permalink10.Tommy Shanks
But they are, they are the ones responsible for registering each of the “one time use” numbers for sale. This is purely to pump up the administative fee for doing so.
Posted by thefrollickingmole on 2008 04 15 at 01:19 AM • permalink
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You’d think they would have learned from the Iraqi Oil For Food fiasco, but no…..