Posts Tagged ‘Carbon credit’

Australia rejects carbon credits for killing camels because emission reduction assessment was incomplete

January 27, 2013

The Australian carbon credits scheme goes from bad to mad!!

So, killing camels for carbon credits is perfectly acceptable provided only that the emissions reduction by the curbing of their flatulence can be properly assessed.

The Reasons for Refusal of the application states:

The Domestic Offsets Integrity Committee (DOIC) advises that it has decided to refuse to
endorse methodology proposal Management of large feral herbivores (camels) in the
Australian rangelands (Ref: 2011FA001) because it does not satisfy the requirements for a
methodology determination specified in Section 112 of the Carbon Credits (Carbon Farming
Initiative) Act 2011 (the Act).

Feral Australian camel: wikipedia

I expect that after a program of installing measurement balloons to the rear end of feral camels and measuring their typical flatulence the application could be resubmitted.

Camel-Slaughter Plan Rejected for Australian Carbon Credits

A plan to give carbon credits for slaughtering camels, curbing emissions coming from their flatulence, was rejected by an Australian government committee.

The proposal by Northwest Carbon Pty, a land and animal management consultant, didn’t provide clear instructions for protecting animal welfare, and the method for assessing emission reductions was incomplete, according to a report by the Domestic Offsets Integrity Committee published yesterday on the Department of Climate Change and Energy Efficiency’s website.

….. “This decision by the DOIC simply serves to highlight the significant challenges faced by private proponents attempting to develop any genuinely innovative new methodologies under the CFI,” Tim Moore, managing director at Northwest Carbon, said in the e-mail. “We expect to submit a new, revised methodology in the second quarter of this year, having dealt with all the specific issues the DOIC raised,” he said.

Northwest Carbon proposed shooting the camels or sending them to an abattoir, after which the meat would be processed for animal or human consumption. Wild camels are estimated to cause more than A$5 million ($5.3 million) in damage to pastoral lands, fences and buildings annually, according to the Department of Sustainability, Environment, Water, Population and Communities. …… The legislation for Australia’s Carbon Farming Initiative listed management of feral camels as potentially eligible for carbon credits, Moore said in his e-mail. “A feral animal methodology is important to the ability of the CFI to deliver quantifiable emission reductions domestically within Australia.”

UK Financial Regulator warns against carbon credit trading scams

August 8, 2011

The Financial Services Authority (FSA) is the regulator of the financial services industry in the UK and has issued a warning against carbon credit trading scams.

The vast sums of money expended on misguided carbon schemes based itself on the misguided attempts to reduce carbon emissions (to what end?) have of course ended up in a few pockets.

I’m tempted to just say “I told you so!!”

FSA Warning 

The Guardian – an ardent supporter of the AGW doctrine – writes:

Carbon credit trading schemes are set to take over from landbanking as a major scam hitting unwary investors. This week the Financial Services Authority issued its first consumer alert on the schemes following an unprecedented 10-fold surge in complaints and queries in July. The watchdog warns that the schemes are unregulated, so anyone can sell them, and UK authorities have no way of controlling their quality or validity.

Investors risk ending up with an overpriced credit which is virtually unsellable – just like the almost worthless agricultural acreage that landbankers push with the promise of planning permission in the near future.

At least one company that was selling land has moved its business model from persuading investors that land will soar in value to concentrating on carbon schemes. 

Jonathan Phelan, head of the unauthorised business department at the FSA, says: “Since June, we’ve seen a significant rise in consumers reporting carbon credit trading schemes to the FSA. While carbon credit trading schemes don’t automatically amount to investment schemes that require FSA authorisation, we are concerned that the majority of the firms being reported to us are using high pressure sales tactics and targeting vulnerable consumers with little or no knowledge of commodities and derivatives trading.

“We suspect that many of these firms are essentially overseas boiler rooms or landbanking firms simply selling a highly dubious new investment product and jumping upon the green/eco-friendly bandwagon. We strongly recommend that consumers seek advice from an FSA-authorised independent financial adviser before getting involved in the carbon credit trading market.”

Well, I told you so.

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