Carbon trading does not reduce carbon emissions

The carbon trading scandals under the Kyoto Clean Development Mechanism continue to grow. The original point of the Clean Development Mechanism was to reward environmentally friendly energy projects with valuable “carbon credits” in order to create an incentive for them, so that they could take place. The clean project earns carbon credits which can be traded for real money on the artificial carbon market.

Obviously there is no point in awarding carbon credits for projects that are not genuinely “clean” but that are exactly what is now going, and it is happening on a grand scale. Instead of acting as the incentive to make clean projects viable the Clean Development Mechanism and its associated carbon credits are quickly becoming a way for large companies to clean up, in the financial sense rather than the environmental sense. Continue reading