Sudden outbreak of sanity at the BBC

“Once upon a time there was a rich man, who gave a poor man a lot of money to burn rice husks instead of coal.  But the poor man was burning rice husks anyway.  So the poor man became rich, but it did nothing for the planet”.  The BBC, once the champion of climate alarmism, seems to be getting the message at last.  Based on their own research, they have a new series, “Is carbon trading a fairy-tale?”.
 
The have identified third-world companies receiving seven-figure sums under the UN’s Clean Development Mechanism (CDM), for emissions reductions that executives admit would have happened anyway.  In some cases the value of carbon credits has exceeded the costs of safe disposal of dangerous gases, not just by double or treble, but by many hundreds of times.  They found companies with CDM receipts that greatly exceeded the total profits on their commercial operations.
 
Meantime Open Europe has uncovered systematic failures and abuses in the EU’s Emissions Trading Scheme (ETS).
 
The fact is that all these schemes, whether global (the UN’s CDM); or regional (the EU’s ETS); or local or personal (carbon offsetting), do nothing for the planet.  They are a sop to the conscience of the concerned middle classes and the commentariat.  They distract attention from real problems and real solutions.  They waste huge sums of taxpayers’ money.  The give vast patronage to bureaucrats, and they represent Eldorado for con-men and shysters.

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