Friday, April 27, 2007

Green asset stripping

The carbon credit scams keep appearing:

A US company bought last year by a private equity group stands to make financial gains selling carbon credits that have resulted from reducing its operations.

The gains arise because the Freescale Semiconductor has exceeded targets for cutting carbon emissions, in part because it has closed plants. The gains raise questions about whether some voluntary carbon trading programmes are effective.
Now productive capacity can be closed at a profit. Treble carrot juice all round.

1 comment:

Paul H. said...

These carbon-credit thingies look like the final trimmings in the elevation of the Green movement to the status of religion. Greenism has its dogma and its heresies, an increasingly powerful priesthood and an ever-growing laity. And when the faith is professed and promulgated by celebs and stars who consume conspicuously and then buy carbon credits, it even has its hypocrites and indulgences.

My prediction is that an eco-Luther will come along and condemn the carbon-credit business, and propose a more spartan branch of Greenism.