Tatamund-India (fuel-efficient-vehicles.org/energy-news/?m=200806)What is carbon trading and what is its connection to CRIME?
The Copenhagen summit 'is a crime scene' said John Sauven of Greenpeace UK.
The Copenhagen deal will make a trillion pounds a year for the bad guys.
This money will come from buying and selling permits, called 'carbon credits', which allow industries to emit carbon dioxide.
In 2006, Britain's National Health Service spent £6million on carbon permits.
In India, the Tata conglomerate, which is closing down a steel works in the UK, is building a giant new coal-fired power plant. (The great carbon credit con: the 'eco' companies causing pollution ... )
The plant will emit 13 percent less carbon than a conventional coal-fired facility.
The plant will increase India's carbon emissions.
But, because it is not as bad as the old coal-fired plants, it qualifies for cheap, green development loans from the World Bank and the Asian Development Bank.
And, it will be given over £500million in free carbon credits by the UN.
These will be sold, via brokers and financiers, who take their cuts.
They will be bought by industries in the rich world who produce too much in the way of carbon emissions.
They will be bought, for example, by electricity generators in rich countries.
So, if an Indian company's carbon emissions appear to be low, that company can sell the difference, in the form of credits, to other companies that exceed their limits.
What about carbon offsets?
Offset firms estimate a company's emissions.
They then suggest ways the company can invest in carbon-reducing projects.
The company can buy a certificate saying, for example, that they have planted some trees.
On 20 December 2009, at The Mail on Sunday, Richard North wrote about the trillion-pound trade in carbon
He refers to the 'climate change industry' last year ripping off £129billion from the global economy.
He refers to a possible trillion-pound bonanza by 2020.
"The carbon permits come mainly from rich industrialists in the Third World and state enterprises in China, created out of mythical savings in carbon emissions."
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