This is an interesting article that provides some insight to what is going on with the global climate submit and CO2 scam.
Attempts to create markets for tradeable CO2 are shaping up to be the next Oil-for-Food-sized fraud.
Deloitte Forensic calls it “the white collar crime of the
future.” Kroll, a business risk subsidiary of Marsh &
McLennan, the global professional services firm, calls it “a
fraudster’s dream come true.”
These two global financial services firms are referring to carbon
trading markets, a business that is estimated to explode from
$132-billion in 2009, mostly in the European Union, to $3-trillion by
2020 as jurisdictions around the world join in carbon trading, part of
the “cap and trade” system that governments are embracing.
Under cap and trade, companies need permits for the right to emit
CO2 as part of their operations. The permits, in effect, guarantee that
excess carbon emissions will be “offset” by third parties
that will, for example, sequester carbon by growing trees. These
permits, which are being traded on carbon exchanges, akin to stock
exchanges, have caught the attention of law enforcement officers, who
have seen an upsurge in fraud.
Says Chris Perryman of Europol’s Criminal Finances and
Technology section in The Hague, in referring to the $7.4-billion in
fraud that have occurred in the last 18 months in the EU’s carbon
market: “It is clear that [carbon trading] fraudsters are fully
aware of the potential that trading in intangible commodities has to
further their ends. Such goods or services can be traded without the
need to be physically moved or transported, which represents an obvious
opportunity to frustrate Law Enforcement efforts to track and trace
transactions.” So much fraud has been occurring that, Europol
estimates, up to 90% of all carbon market volume in some EU nations was
related to fraudulent activities.