As well as pumping much as 600 million tonnes more greenhouse gases into the atmosphere, the carbon credits scheme has been abused by countries like Russia and the Ukraine which have used them as a money making scam.
Vladyslav Zhezherin, one of the co-authors of the study by the Stockholm Environment Institute says:
“This was like printing money.”
Another co-author Anja Kollmuss has told BBC News.
“We were surprised ourselves by the extent [of the fraud], we didn’t expect such a large number.”
“What went on was that these countries could approve these projects by themselves there was no international oversight, in particular Russia and the Ukraine didn’t have any incentive to guarantee the quality of these credits.”
To which the two obvious questions are:
Have any of these people actually been to Russia or the Ukraine?
This stuff that these greenies have been smoking sounds totally amazing. How do we go about getting some?
The corruption they describe is by no means a recent thing. It dates back to Enron whose entire business model was based on dodgy carbon credits, which it used not to save the planet but to close down its rivals in the coal industry.
Read the rest at Breitbart.