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Non-Tech : Climate Change, Global Warming, Weather Derivatives, Investi
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To: NYBob1 who wrote (200)3/31/2008 3:30:56 PM
From: joseffy   of 442
 
Sounds like a nice racket

■ Brokers providing services of questionable or no value.

■ A shortage of verification, making it difficult for buyers to assess the true value of carbon credits.

■ Companies and individuals being charged over the odds for the private purchase of European Union carbon permits that have plummeted in value because they do not result in emissions cuts.

Francis Sullivan, environment adviser at HSBC, the UK’s biggest bank that went carbon-neutral in 2005, said he found “serious credibility concerns” in the offsetting market after evaluating it for several months.

“The police, the fraud squad and trading standards need to be looking into this. Otherwise people will lose faith in it,” he said.
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