A French court has sentenced businessman Arnaud Mimran to eight years in jail and a €1 million fine, for his role in a €283 million carbon tax fraud. The scam took place from November 2008 to June 2009, during which time the scammers pocketed €283 million in non-paid VAT on €1.4 billion worth of emission allowances.
ETS
There are 11 posts tagged ETS (this is page 1 of 1).
Jens Frølich Holte, political adviser to Norway’s Minister for Climate and Environment, explains why he supports using markets and pricing carbon
In March 2015, Bloomberg quoted Jens Frølich Holte, political adviser to Norway’s Minister for Climate and Environment, as saying that, “Carbon trading can speed up the global transition away from a fossil economy. Trade creates benefits and this is as true for carbon as it is for other commodities.”
Global carbon markets have shrunk in value by 60% since 2011
In 2011, carbon markets traded a total of €96 billion worth of pollution allowances and carbon credits. In 2012, the figure was €62 billion. In 2013, it fell to €38.4 billion. The price of EUAs (EU Allowances) has fallen from €18 in 2011 to €5.
The case of the missing carbon credits
The European Trading System suspended spot trading in carbon credits on 19 January 2011, after 475,000 EU carbon dioxide emissions allowances (EUAs) were stolen from the Czech Republic’s carbon registry. The theft was discovered at 8:00 a.m. on 19 January 2011, by which time the thieves had already sold the credits.
Australia caught REDD handed
Australia’s carbon pollution reduction scheme includes a nightmare vision of REDD. It would create a loophole big enough to allow Australia’s greenhouse gas pollution to continue and even expand.
Forest offsets remain excluded from ETS – for now
FERN‘s EU Forest Watch reports on the EU Emissions Trading Scheme directive, which was adopted on 17 December 2008. Forest credits are excluded from the ETS until at least 2020. This is good news, although they should be excluded after 2020 as well.
Keep forests out of the EU Emissions Trading Scheme
Allowing carbon credits from forests to be traded under the European Union Emissions Trading Scheme (ETS) would create a enormous loophole, allowing EU Member States to buy their way out of emissions reductions.
European Commission on forests and carbon markets: “in the end we have to have the market”
The EU outlined its plans for carbon markets in relation to forests at a press conference today (5 December 2008) in Poznan. The EU aims “to halve the total forested area loss in the tropics by 2020, and to halt the global forest cover loss completely by 2030 at the latest” and estimates that this will cost somewhere between €15 and €25 billion a year.
NGOs welcome European Commission decision to keep forests out of the carbon market
As REDD-Monitor reported last week, the European Commission has decided not to include forests in the European Union Emissions Trading Scheme (ETS). FERN and Global Witness released the following press release praising the Commission’s decision.
European Commission says ‘no’ to forest credits in the ETS until after 2020, cites ‘market flooding’ and governance problems
The European Commission will tomorrow state that it is opposed to the inclusion of forest-based carbon credits in the ETS, in a wide-ranging Communication on deforestation and how the European community plans to deal with it. The Communication will say that the aim should be to reduce deforestation by 2020 and halt it by 2030.
Global Canopy Programme misled conservation activists before vote on ETS forest credits
Conservation campaigners were misled into believing that the Worldwide Fund for Nature (WWF) supported the inclusion of ‘avoided deforestation’ credits within the the European Emissions Trading Scheme (ETS) ahead of Tuesday’s vote in the influential Environment Committee of the European Parliament.