Enron-Type Accounting Used to Calculate "Carbon Offsets"

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

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Campaigners have criticised Captain Ian Finley, a UK resident who has represented the Cook Islands at the International Maritime Organization since 2006, for consistently defending industry interests.

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