Green Group Accuses China of Climate Blackmail

by

I came across the article Green Group accuses China of Climate Blackmail in The Guardian Newspaper where a NGO accuses China of making threats to vent powerful greenhouse gases if Europe cuts off carbon credits next year, see link. Chinese firms have received the bulk of the £6bn in carbon credits of the reduction of gases which are produced in the manufacturing of refrigerant chemicals under the EU’s Emissions Trading Scheme. The EU has now planned to clamp down on this carbon trading scam by  cutting off the carbon credits, and the chinese in turn have threatened that ‘if there is no trading of HFC-23 credits, they will stop incinerating the gases’, and thus sparking outrage with environmentalists.

For those not aware how the  EU carbon credits scheme  works, better known as carbon offsetting this is where companies in the EU exchange pollution permits for any emissions produced. The scheme allows permits to be bought from developing countries most popularly India and China with projects that destroy the HFC -23 gas that the article is referring to, the HFC-23 gas is a by product of another gas HFC-22 which is manufactured by many chinese and indian companies primarily to earn the money from destroying the HFC-23 gas.

In reading this article, one brings to question the credibility on carbon markets whereby there is no genuine cutting down of greenhouse emissions, EU countries continuing to buy offsets that are ‘fake offsets’ at the same time not reducing their own emissions.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: