Very quick one, will be back later this week.
I wondered why the BBC are soo complicit in this, although even their contributor Andrew marr is a so-called 'Denier' in his blog... Turns out that the BBC have to be. Here's the IIGCC:
"The Institutional Investors Group on Climate Change (IIGCC) is a forum for collaboration on climate change for European investors. The group's objective is to catalyse greater investment in a low carbon economy by bringing investors together to use their collective influence with companies, policymakers and investors. The group currently has over 50 members, including some of the largest pension funds and asset managers in Europe, and represents assets of around €4trillion. A full list of members is available on the membership page".
So, 4 Trillion Euros. A mere trifle, eh???
Who's the Chairman of the IIGCC though??
Only the fucking BBC head of pensions investment: Peter Dunscombe!!!!
What happened to: The BBC has operated since its creation in 1927 under a Royal Charter as a public corporation. The Charter decreed that the BBC's views be entirely independent of any private or governmental influence. It is thereby required to be free from both political and ---commercial--- influence and answer only to its viewers and listeners......
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And another scam exposed:
http://www.ft.com%2Fcms%2Fs%2F0%2Ff47411f2-8d20-11de-a540-00144feabdc0.html%3Fnclick_check%3D1
Norway’s DNV (Det Norse Veritas, “The Norwegian Truth”) was the largest auditor of the infamous CDM’s (Clean Development Mechanisms) until it was suspended last December when it was caught selling carbon credits for projects it hadn’t checked. At the time it was so large it had approved fully half of all CDM credits on the market.
Its excess workload was transferred to number two auditor, SGS, and shock, this week, SGS has been caught and suspended because it couldn’t prove it’s staff had properly vetted projects either. Indeed it couldn’t show that they were even trained to do that vetting. (Did SGS not see this coming?)
When the West offered money to buy the rights to air-with-slightly-less-carbon-dioxide-than-it-could-have-had, China and India put up their hands and said “Yes please” 900 times. And why wouldn’t they? CDMs are worth about 20% of all emissions trades, which amounted to $126 billion in 2008. Up until the global financial crisis it was doubling annually, like all good ponzi schemes do.
This supposedly “free market” has none of the normal limits which make it hard for companies to get away with cheating … namely a connection to real material goods: usually if you don’t have it, you can’t sell it. But with carbon credits, customers can buy fake products and never know the difference — even after it’s “delivered”. That’s what you get when you deal in atmospheric nullities.
It might be called a “carbon market”, but remember that no one actually trades carbon, they trade rights to emit air with less carbon, and it’s not even as physical as air with less carbon than it used to have (something we can measure). No, it’s worse than that: it’s air with less carbon than it might have had.
So it’s an underwhelming surprise that the top two auditors have both been caught selling “Credits for emitting air that might-have-had-more-carbon-in-it, which might-have-been-checked by people who might-have-been-qualified to check these things”. Selling bridges in Boston has more respectability.
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