Posted on 12/13/2021 4:22:58 PM PST by ameribbean expat
One of the world's largest forest preservation projects, in Indonesia, has issued credits up to three times more than the amount of carbon dioxide it is likely to absorb, Nikkei has found, an apparent incongruity that if repeated could lead to a flood of unworkable "carbon zero" projects.
Rimba Makmur Utama, an Indonesian property development company managing the Katingan Mentaya Project, denies the allegations.
Royal Dutch Shell, Volkswagen and Takeda Pharmaceutical -- more than 20 globally known companies in all -- are flocking to the credits offered by the forest preservation project in Central Kalimantan, on the island of Borneo. The project is intended to conserve tropical peatland as a vast carbon sink and prevent lumbering by suspending development rights and creating jobs.
(Excerpt) Read more at asia.nikkei.com ...
Lol. At what point would they all agree to say “No, we fleeced them for 100% of the “carbon we could offset” so let’s not rip them off more than 100%”
Carbon credits were invented by Enron...
Algore invented carbon credits so it’s scam
ALL of these carbon schemes are scams.
Where’s Al Gore when one needs him?
This is the latest version of a time honored process. In the Middle Ages they sold indulgences. This is not much. different. Companies don’t care about the balance, they need the virtue badge.
Thank you! Indeed, the goosestep’s the new step this year.
Carbon credits are the real world equivalent of the Seinfeld TV show’s “Human Fund” that George ran.
Anyone with a even basic knowledge of thermodynamics could tell you this is a shell game designed for one purpose.
To move trillions from rich countries to dictators in poor counties.
This is how Yasser Arafat became a billionaire without ever having to work a day in his life.
The left desperately wants a tax on the net value of rich folks. Seeing as a large majority of those using the carbon credit scam are both rich and hard core lefties I think taxing their carbon credit paper fortunes would be an excellent trial run. Include ALL the institutional and “non-profit” holders, that’s only fair Be sure to lock down their initial calculated valuation and set the percentage HIGH as between this and and canceling all those green subsidies and regulations the the marks will a limited window to get back what was scammed from them. Feel free to complement them walking the LGBTQ walk as their screaming reaches the high falsetto range.
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