The carbon offset industry is using the same sort of ‘future value accounting’ that caused the collapse of energy giant Enron, according to a watchdog group.
When companies like Climate Care and the Carbon Neutral Company sell the public carbon offsets, carbon savings expected to be made in the future are counted as savings made in the present. This is the same technique used by Enron to inflate its profits with such disastrous consequences.
The technology could provide cover for fossil fuel companies to explore more oil and gas drilling, campaigners say.
Activists hope that more and bigger court wins will break the "grinding gridlock" on policies to end use of fossil fuels.
Several major newspapers have amplified a new report on the cost of net zero that contains significant inaccuracies.
A UN expert calls for ending confidential arbitration agreements in development and trade treaties, which are forcing nations to roll back climate, enviro, human rights protections while owing fossil fuel companies billions in damages.
Clearing the PR Pollution
Sections
Databases
Topics
Clearing the PR Pollution
Follow
Website by SeriousOtters