Kyoto's Great Carbon Offset Swindle
Off-the-record and in the corridors at the many carbon trading conferences, industry insiders will admit that deceitful claims in CDM applications are standard practice. Everyone in the system knows that everyone else is making up stories, and that the system would cease "working" if they didn't.
The lobby group for the carbon trading industry, the International Emissions Trading Association (IETA), has stated that proving the intent of developers applying for the CDM "is an almost impossible task." Other industry representatives have complained that "good story-tellers" can get a project approved "while bad story-tellers may fail even if the project is really additional."
One glaring signal that many of the projects being approved by the CDM's Executive Board are non-additional is that almost three-quarters of projects were already complete at the time of approval. It would seem clear that a project that is already built cannot need extra income in order to be built.
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