So Gareth’s in high dudgeon again. But this is not worth his ire: what he describes is nothing on the cheating Chinese.
Companies there have been caught out making mind-boggling bags of money. In a bold-as-brass scam under the Clean Development Mechanism, the UN has been paying them to destroy a refrigerant gas that has a very strong greenhouse effect. Continue Reading →
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A few hours ago China shocked the world.
China has responded to efforts to ban the trading of widely discredited HFC-23 offsets by threatening to release huge amounts of the potent industrial chemical into the atmosphere unless other nations pay what amounts to a climate ransom.
This will have sensitive people trembling in their boots. Those who believe these gases can actually alter the climate and make holes in the ozone layer (which contradicts the science) will have nightmares; the rest of us simply encourage our leaders to refuse to bend to China’s bullying.
This strangely naive description of what’s been going on must have been framed to retain a semblance of decency for the CDM, which was always a rort waiting to be exploited (emphasis added):
China’s threat comes after the European Union and other nations moved to ban HFC-23 credits from internal carbon markets in recognition of the perverse incentives created by these credits under the UN Clean Development Mechanism (CDM). The vast amounts paid for HFC-23 offsets have led factories in China and elsewhere to manufacture far more HCFC-22 and its HFC-23 by-product than necessary, just to maximize the amounts paid to destroy HFC-23 through the UN-backed carbon trading scheme.
Why not admit the truth, which is that China (and others) have deliberately set up shop to manufacture these CFCs solely in order to collect the unreasonably huge bounties (70 times the cost of destroying it) offered by the outstandingly stupid (or frankly self-serving) UNFCCC under its “Clean Development Mechanism”.
China displays clear belligerence in this “climate” official’s direct threat against the very environment his job is meant to safeguard. Continue Reading →
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