04 Jan '13, 5pm

Why businesses shouldn't let carbon fraud halt U.S. cap and trade

Why businesses shouldn't let carbon fraud halt U.S. cap and trade

At first glance, all the news about fraud and fraud investigations in the EU carbon market might seem to give companies a good reason to oppose carbon trading. Last month’s Deutsche Bank raids and arrests -- part of European carbon-trading-fraud investigations -- came after six men already had been convicted of carbon-trading tax evasion through Deutsche Bank in 2011. In June, three others were jailed for carbon fraud in the United Kingdom . This recent spate caps a flurry of anti-carbon-fraud activity in 2009 and 2010 , when European law enforcement raided hundreds of offices and arrested more than 100 suspected fraudsters. And the accusations and investigations continue. But given the U.S. trends on climate regulation and the current political climate, it would be a mistake for industry to seize on the criminal activity as a reason to oppose consideration of a cap-and-tr...

Full article: http://www.greenbiz.com/blog/2013/01/04/carbon-fraud-us-c...

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