Enron-Type Accounting Used to Calculate "Carbon Offsets"

authordefault
on

The carbon offset industry is using the same sort of ‘future value accounting’ that caused the collapse of energy giant Enron, according to a watchdog group.

When companies like Climate Care and the Carbon Neutral Company sell the public carbon offsets, carbon savings expected to be made in the future are counted as savings made in the present. This is the same technique used by Enron to inflate its profits with such disastrous consequences.

Related Posts

on

DeSmog writer Justin Nobel’s new book explores how workers bear the brunt of the oil and gas industry’s hidden contaminated waste.

DeSmog writer Justin Nobel’s new book explores how workers bear the brunt of the oil and gas industry’s hidden contaminated waste.
on

Britain is boosting the Kremlin war effort by continuing to purchase billions of pounds worth of refined oil from India, China, and Turkey, campaigners say.

Britain is boosting the Kremlin war effort by continuing to purchase billions of pounds worth of refined oil from India, China, and Turkey, campaigners say.
on

Advertorials and a podcast vanish as regulators consider greenwashing complaint against the state-owned oil giant.

Advertorials and a podcast vanish as regulators consider greenwashing complaint against the state-owned oil giant.
on

From South Africa to Ukraine, five industrial chicken companies that supply KFC have benefited from financing from the World Bank Group and the European Bank for Reconstruction and Development.

From South Africa to Ukraine, five industrial chicken companies that supply KFC have benefited from financing from the World Bank Group and the European Bank for Reconstruction and Development.