May 30, 2009

You don't say

The whole "carbon credit" thing? Yeah, it turns out to pretty much be a scam. Oh, and as a side benefit, it's killing people in the Third World, too:

GFL is part of a worldwide carbon-trading scheme, centred in London, which is supposed to be helping to save the planet from global warming. On paper the scheme, which was ratified under the Kyoto agreement and supervised by the UN, looks like an efficient way to cut global carbon emissions. However, a Live investigation has exposed a series of major failings and loopholes in the scheme.

Four years ago, GFL installed technology to reduce the greenhouse gases it produces and was given a vast financial reward by the UN; a UK company was also given considerable sums for investing in the project. However, far from being a flagship green factory, GFL stands accused of poisoning the local environment.

But cap tax and trade is a great idea.

Posted by: Sean M. at 08:42 PM | Comments (7) | Add Comment
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