China Development Finance Corporation is cold calling people and offering to sell their near-worthless carbon credits. The company is a transparently obvious scam.
On 28 November 2009, Brazil, South Africa, India and China formed the BASIC block and agreed to act jointly at COP15, the UN climate negotiations in Copenhagen. The BASIC countries threatened to walk out of COP15 if rich countries attempted to force their agenda on the Global South.
Last year, emissions of carbon dioxide increased by 3.2% to 31.6 billion tonnes, according to figures released by the International Energy Agency. Fatih Birol, IEA’s chief economist told Reuters that, “[T]he trend is perfectly in line with a temperature increase of 6 degrees Celsius (towards the end of this century), which would have devastating consequences…
Yesterday, ABN interviewed the Chair of the Clean Development Mechanism Executive Board, Martin Hession. The interview included a very interesting question, which is very relevant to REDD and whether REDD is to be financed by carbon trading.