The Carbon Offset “Smokescreen”
According to a report in the Financial Times:
Companies and individuals rushing to go green have been spending millions on “carbon credit” projects that yield few if any environmental benefits…
The FT investigation found:
■ Widespread instances of people and organisations buying worthless credits that do not yield any reductions in carbon emissions.
■ Industrial companies profiting from doing very little – or from gaining carbon credits on the basis of efficiency gains from which they have already benefited substantially.
■ Brokers providing services of questionable or no value.
■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.
■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts.
Aw, so what? If it makes you feel better…