'Criminal activity intrinsic to carbon market' emissions trading
In announcing its investigations into the pan-European racket, the agency said that
- as much as 90 percent of the entire market volume on emissions exchanges
- was caused by fraudulent activity.
European Commission climate spokeswoman Maria Kokkonen told EUobserver that a new EU directive on reverse charges for emissions trading, which aims to close off this form of tax fraud, was implemented in February of this year specifically to deal with this problem....
- If the experimental directive turns out not to put an end to ETS fraud, "other options may be considered."...
Environmentalist critics of the ETS however said that
- such criminal activity is not the exception to the rule, but intrinsic
- to a carbon market.
"Carbon markets are highly susceptible to fraud, given their complexity and the fact that it is not always clear what is being traded," said Oscar Reyes of Carbon Trade Watch.
- "It's good that the commission and tax authorities are clamping down, but it is unlikely that this will be the last case of carousel fraud,
but also unlikely that it will be the last type of fraud involved in emissions trading.""
- May 3, 2010, EUObserver.com, "Anti-fraud investigators swoop on EU emissions traders," Leigh Phillips, Brussels, via Climate Depot via Tom Nelson
- The climate industry rests on the criminally false assumption that catastrophic man caused climate change (global warming) exists, and is largely caused by evil US citizens who therefore must pay billions in reparations. Money must be immediate and continue indefinitely to enrich corrupt UN grifters, brutal equatorial dictators, billionaire hedge fund thugs and various other "stakeholders" with the Chicago Climate Exchange. We must surrender our lives, our families and our sovereignty without complaint to unelected imperialist global thugs. ed.