Re: Carbon credits gone awry: Coolant companies raise output
Posted: Tue 25 Aug 2015, 02:37:47
Where have I heard this before? Oh, yeah, in this 2012 thread.
Credit scheme backfired, hiking greenhouse gases, study finds
August 24, 2015
Credit scheme backfired, hiking greenhouse gases, study finds
August 24, 2015
A global scheme meant to keep atmospheric greenhouse gas (GHG) levels in check instead caused some 600 million tonnes of excess emissions, researchers said Monday.
They blamed a loophole in the Kyoto Protocol's Joint Implementation (JI) mechanism which allowed countries to earn and sell credits for emissions cuts which were "not real".
Russia and Ukraine were the main offenders, reported authors Lambert Schneider and Anja Kollmuss from the Stockholm Environment Institute (SEI).
...
But a flaw in the system created a "perverse incentive" for countries to create and incinerate more waste gases to earn more credits, said a study by the same authors, published simultaneously in the journal Nature Climate Change.