Climate's Sub-Prime Mortgages

onMay 20, 2008 @ 10:18 PDT

Carbon offsets — and emissions-trading schemes, their industrial-scale siblings — are the environmental version of subprime mortgages.

They both started from some admirable premises. Developing countries like China and India need to be recruited into the fight against greenhouse gases. And markets are a better mechanism for change than command and control. But when those big ideas collide with the real world, the result is hand-waving at best, outright scams at worst. Moreover, they give the illusion that something constructive is being done.

By Ross Gelbspan

How Italy’s largest fossil fuel company uses 'green' bonds as a loophole to keep financing hydrocarbons

ByStefano Valentino and Giorgio Michalopoulos

onSep 16, 2024 @ 12:39 PDT

Both private and institutional investors have poured billions into Eni's "green-labelled" bonds, under terms and conditions that enable it to continue to fund carbon-emitting activities.

uk/Nigel Farage Goes on Pro-Fossil Fuel Rant at Fundraiser for Climate Denial Group

BySam Bright and Adam Barnett

onSep 14, 2024 @ 03:44 PDT

Tickets at the event in Chicago cost up to $50,000 for the chance to have dinner with the Reform UK leader.

us/Violations Discovered at Nation’s First Carbon Capture and Storage Project

BySharon Kelly

onSep 13, 2024 @ 12:29 PDT

Corrosion issues in a deep monitoring well were discovered in March, raising concerns that early issues could be a sign of major problems to come as CCS and monitoring wells age.