Wednesday, June 24, 2009

PNG to investigate CO2 con men -
PORT MORESBY, Papua New Guinea, June 24 (UPI) -- The government of Papua New Guinea is to conduct an investigation into claims of con men selling fake carbon-trading certificates to small landowners.

At least 500 villagers, mostly in Oro province on the northwest coast, have paid upwards of $400 to register as shareholders in a carbon-trading company.

They are lured by the con men with promises to hand out big returns on the investment, according to Australian national media group Associated Australian Newspapers, which investigated claims by a forestry insider.
LCH.Clearnet to clear OTC emissions spot trading
The European spot market for carbon trading has come under scrutiny recently after the French government made permit trading exempt from value added tax (VAT) in a move to prevent a potential tax scam involving French emissions exchange BlueNext.
Brokers said the LCH.Clearnet service and Britain's spot market as a whole were not vulnerable to VAT fraud, also known as carousel fraud, because of strict KYC (Know Your Customer) regulations for brokers introduced by the UK's Financial Services Authority.
Dennis Kucinich Is No Fan of Proposed Energy Bill | Cleveland Leader
Cleveland area Congressman Dennis Kucinich has made it clear that he is against the energy bill crafted by fellow Democrats. Kucinich feels that the bill will not curb greenhouse gas emissions explaining in on the house floor...

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