|
Carbon-Market Millionaires Take a Hit
Oxford, England Marc Stuart and Pedro Moura Costa have become multimillionaires in a booming new market designed to fight global warming. I thought Algore said that this market was to be 'Al'truistic? Now, their empire is under attack. Their firm, United Kingdom-based EcoSecurities Ltd., helps companies in the industrialized world meet their obligations to pollute less by selling them credits that fund clean-air projects in poorer nations. Last year, some $9.4 billion in these credits were traded, up from almost none four years earlier. The markets anything-goes early days appear to be ending. United Nations officials who regulate the trade started questioning scores of proposed projects, from hydroelectric plants in China to wind farms in India. The issue: whether they provide real environmental gains, or are just padding the pockets of middlemen like EcoSecurities. Not typical of Turtle Bay. UN reacting to some other influence? Posted by: Mullah Richard 2008-04-16 |
| http://www.rantburg.com/poparticle.php?ID=236888 |