{"id":43251,"date":"2007-04-26T19:01:48","date_gmt":"2007-04-26T19:01:48","guid":{"rendered":"http:\/\/www.greendiary.com\/?p=14295"},"modified":"2020-09-16T11:18:05","modified_gmt":"2020-09-16T11:18:05","slug":"carbon-credit-is-no-solution-to-industrial-emissions-financial-times","status":"publish","type":"post","link":"https:\/\/drprem.com\/guide\/carbon-credit-is-no-solution-to-industrial-emissions-financial-times\/","title":{"rendered":"Carbon Credit is no solution to industrial emissions: Financial Times"},"content":{"rendered":"<div class=\"38520354a5201685ddf480eec688e1a7\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-9477973674766713\"\r\n     data-ad-slot=\"8885944693\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>In a starling revelation, an investigation comes up with the finding that millions may have been spent on the <strong>&#8216;Carbon Credit&#8217;<\/strong> projects but the schemes are yielding almost next to nothing!<\/p>\n<p>The Financial Times investigation claims that <a href=\"https:\/\/www.ft.com\/cms\/s\/48e334ce-f355-11db-9845-000b5df10621.html\" target=\"_blank\" rel=\"noopener\">the project has come a cropper<\/a> and <strong>some organizations are paying for emission reductions that simply does not happen!<\/strong><\/p>\n<p>It also accused that some <strong>organizations are also making huge profit out of carbon trading by making the consumer pay to clean up its own pollution.<\/strong><\/p>\n<p>According to the investigation, the <strong>&#8216;green gold rush&#8217;<\/strong> has resulted in organizations buying credits that failed to cut down on carbon reduction.<\/p>\n<p>Francis Sullivan, an environment adviser at HSBC, which went carbon-neutral in 2005, said he had &#8216;serious credibility concerns&#8217; in the offsetting market.<\/p><div class=\"38520354a5201685ddf480eec688e1a7\" data-index=\"2\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-9477973674766713\"\r\n     data-ad-slot=\"8885944693\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n\n<p>Sullivan said,<\/p>\n<blockquote><p>The police, the fraud squad and trading standards need to be looking into this. Otherwise people will lose faith in it.<\/p><\/blockquote>\n<p>The report also accuses companies like DuPont of indulging into malpractice. The Kentucky plant of the chemical major yields HFC-23, a potent greenhouse gas and now they are seeking $4 from customers to eliminate a tonne of CO2 from the plant even though the equipment needed to reduce the gas is relatively cheap. DuPont, however, refused to entertain any query on the issue.<\/p>\n<p><strong>The FT report would jolt many out of complacence who thought the carbon credit policy would be the panacea to all the greenhouse ills plaguing the industry.<\/strong><\/p>\n<p><strong>Picture Credit:<\/strong> <a href=\"https:\/\/www.savehappyvalley.org.nz\/happyvalley_climate_change\" target=\"_blank\" rel=\"noopener\">savehappyvalley<\/a><\/p>\n<div class=\"38520354a5201685ddf480eec688e1a7\" data-index=\"3\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n          <p><a id=\"link-15\" href=\"\" target=\"_blank\" rel=\"noopener noreferrer\">\r\n            <img decoding=\"async\" style=\"width:100%;height:auto;\" id=\"img-15\" src=\"\"><\/a><\/p>\r\n            <script>\r\n            var xmlhttp = new XMLHttpRequest();\r\n            xmlhttp.onreadystatechange = function() {\r\n              if (this.readyState == 4 && this.status == 200) {\r\n                var myObj = JSON.parse(this.responseText);\r\n                document.getElementById(\"link-\"+myObj.id).setAttribute('href',myObj.url);\r\n                document.getElementById(\"img-\"+myObj.id).setAttribute('src','https:\/\/fetch.drprem.com\/\/uploads\/'+myObj.image);\r\n              }\r\n            };\r\n            xmlhttp.open(\"GET\", \"https:\/\/fetch.drprem.com\/\/api\/Ads\/15\", true);\r\n            xmlhttp.send();\r\n            <\/script>\r\n        \r\n        <style>\r\n        *{box-sizing:border-box}.top-container{display: grid;grid-template-columns: auto auto auto;}.column{float:left;width:100%;padding: 0 7.5px 15px 7.5px;}.row{margin:0 -5px}.row:after{content:\"\";display:table;clear:both}@media screen and (max-width: 600px){.top-container{display: block;grid-template-columns: unset;}.column{width:100%;display:block;margin-bottom:20px}}.card{text-align:center;}.card_image img{width:100%}.card_body{padding:15px}.card_title{font-size: 14px;line-height: 19px;text-decoration: none;text-align:left;color: #333;}.card-heading{text-align: left;margin-bottom: 25px !important;}\r\n        <\/style>\r\n        <div class=\"row todays-top\">\r\n            <h3 class=\"card-heading\"> Recent Articles: <\/h3><div class=\"top-container\" id=\"todays-top\">\r\n        <\/div>\r\n        <\/div>\r\n        <script>\r\n            var xmlhttp = new XMLHttpRequest();\r\n            xmlhttp.onreadystatechange = function() {\r\n            if (this.readyState == 4 && this.status == 200) {\r\n            var myObj = JSON.parse(this.responseText); 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