Tag: carbon-credits

Scientific paper reveals a huge and unexpected spike in the emissions of HFC-23, one of the world’s most damaging greenhouse gases

We will address key European politicians and policy-makers in a bid to help end corrupt global trade in bogus HFC-23 carbon credits. We have been at the forefront of efforts to expose and halt dodgy credits, awarded to companies in return for the destruction of greenhouse gases manufactured solely for that purpose

China has responded to efforts to ban credits from industrial gas projects in the European carbon market by threatening to release huge amounts of potent industrial chemicals unless developed nations pay what amounts to a climate ransom with continued payments far in excess of the actual cost of destroying HFC-23

Efforts to reform Europe’s Emissions Trading Scheme (ETS) by restricting the use of phoney carbon credits from HFC-23 destruction and other industrial gas offsets are being opposed by Italy.

Under the UN Clean Development Mechanism (CDM), credits for the destruction of hydrofluorocarbon-23 (HFC-23) have created an unwarranted market for the production of HFC-23. We urge 10 major UK businesses currently financing these projects to stop dealing in these flawed and environmentally detrimental offset credits.