Posted by: Grant | September 29, 2011

WikiLeaks Leak

WikiLeaks
Viewing cable 08MUMBAI340, CARBON CREDITS SUFFICIENT BUT NOT NECESSARY FOR SUSTAINING
http://wikileaks.org/cable/2008/07/08MUMBAI340.html

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INTERNATIONAL RIVERS
WikiLeaks Cable Highlights High Level CDM Scam in India
Tue, 09/20/2011 – 11:49am
By: Katy Yan
http://www.internationalrivers.org/en/blog/katy-yan/2011-9-20/wikileaks-cable-highlights-high-level-cdm-scam-india

“A recent WikiLeaks cable from the US Consulate in Mumbai provides irrefutable evidence that carbon credits generated by Indian projects and sold to European countries under the Clean Development Mechanism (CDM) are a lot of hot air.

It reports on a seminar in 2008 with the US Consulate General Office, analysts from the Government Accountability Office (which later released a critical report on offsets), and the executives of top Indian companies. The cable notes that these companies “conceded that no Indian project could meet the ‘additionality in investment criteria’ to be eligible for carbon credits.”

While none of this is really surprising (studies from the University of Zurich and by other experts have provided ample evidence that Indian hydro and coal-fired power plants under the CDM would have been built regardless of carbon credits), the shocker is that these admissions come from not just project developers but also high-level people within the CDM…. “

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THE HERALD SUN
Staggering cost of CO2 permits revealed
Terry McCrann
August 26, 2011
http://www.heraldsun.com.au/business/staggering-cost-of-co2-permits-revealed/story-fn7j19iv-1226122430767

” …These are the permits that Australian industry and power stations will have to buy under Julia Gillard and Greens leader Bob Brown’s scheme. With the costs passed on to consumers.

Even without any rorting, the impact on the economy of this part of the scheme will be exactly like taking $650 billion and shredding it…. “

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