Enron-Type Accounting Used to Calculate "Carbon Offsets"

Enron-Type Accounting Used to Calculate "Carbon Offsets"
on

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.

Related Posts

on

New research finds that top U.S. corporations work with the same lobbyists that do lobbying on behalf of fossil fuel companies. The overlap raises questions about the sincerity of corporate climate commitments.

New research finds that top U.S. corporations work with the same lobbyists that do lobbying on behalf of fossil fuel companies. The overlap raises questions about the sincerity of corporate climate commitments.
on

Investigation surrounding sulfur dioxide pollution from a Port Arthur, Texas, plant owned by the “other” Koch brother offers a test of the Biden administration’s environmental justice commitments.

Investigation surrounding sulfur dioxide pollution from a Port Arthur, Texas, plant owned by the “other” Koch brother offers a test of the Biden administration’s environmental justice commitments.
on

In an unprecedented move, nations under the U.N. Aarhus Convention to protect environmental rights vote to suspend Belarus’ rights under the treaty.

In an unprecedented move, nations under the U.N. Aarhus Convention to protect environmental rights vote to suspend Belarus’ rights under the treaty.
on

The international financial organization is a major shareholder in a British insurance company underwriting oil projects in Uganda and Tanzania that may impact a nature reserve and more than 120,000 people.

The international financial organization is a major shareholder in a British insurance company underwriting oil projects in Uganda and Tanzania that may impact a nature reserve and more than 120,000 people.