It has been a minute, so I’m going to write about another carbon offset project scandal – or at least regulatory investigation. This time, it’s personal. Not for me, but for staff at verification bodies. Bloomberg reported
“Luxembourg authorities are looking into possible wrongdoing tied to carbon-credit projects based in China that have been tapped by European companies to reduce their CO2 footprints…
The China-based credits under investigation are so-called upstream emissions reductions (UERs), which allow companies to report lower emissions by funding measures that claimed to reduce pollution during the production of oil and gas. UERs have tended to trade at much higher prices than credits tied to the so-called voluntary carbon market or Europe’s emissions trading system.”
The projects and companies involved were not identified publicly.
Then there was something I hadn’t heard of before:
“Berlin’s public prosecutor has also been investigating 17 employees at the verification bodies responsible for monitoring the projects.”
Carbon scandals are getting personal and criminal.
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