There's No Accounting for Carbon-Credit Scammers

The UN’s carbon offsetting scheme has become mired in yet more controversy after the panel overseeing the initiative suspended its third auditor in 15 months. The board of the Clean Development Mechanism (CDM) last week suspended Germany’s TUEV SUED and also partially suspended Korea Energy Management Corporation, after spot checks undertaken at their offices revealed procedural breaches.  Both firms are recognised by the UN as so-called designated operational entities (DOEs) and provide official verification of emission reduction claims made by projects operating within the CDM. Emission reduction projects have to gain approval from DOEs before they can sell carbon credits under the scheme, making their auditing and verification role essential to the credibility of the scheme.



Australia’s recent experience with widespread scamming of Federal Government subsidies for roof insulation, solar hot water and voltaic panels provide further evidence that the greed and dishonesty of a significant minority of business people may well prove to be as great an impediment to action on climate change as the perverse agenda of the denialists.

Bonn, Germany –

Delegates to the UN Climate Conference were smiling as they entered the plenary session today holding in their hands “100 International Carbon Credits.”

The certificates bear a portrait of Nobel Prize Laureate and former Vice President Al Gore beside a portrait of the earth on fire.