Today, the Christian Science Monitor published a damning, six-part investigation into carbon credits, and concluded that they are a hive of fraud and villainy, calling them "a 'Wild West' market ripe for fraud, exaggeration, and poorly run projects that probably do little to ease global warming."
An investigation by The Christian Science Monitor and the New England Center for Investigative Reporting has found that individuals and businesses who are feeding a $700 million global market in offsets are often buying vague promises instead of the reductions in greenhouse gases they expect.
Buying carbon offsets may ease eco-guilt but not global warmingCarbon offsets are the environmental equivalent of financial derivatives: complex, unregulated, unchecked and - in many cases - not worth their price.
via boingboing.net
Posted via web from Firesaw
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