EU ETS second phase has cut GHG emissions by 0.33% – "a 5 billion euro fraud"

On 19 March 2011 07:42, Hugh Sharman wrote and please get it onto Claverton

On 3/19/2011 3:08 AM, Chris Hodrien wrote:
Hugh, fascinating and important stuff. I missed this. Please provide programme details +BBC podcast weblink.
One of my Warwick Univ international MSc students did the ineffectiveness of the ETS +CDM for her Dissertation last year , but we didn’t discover this material!  She did argue that it was fundamentally flawed and would never achieve its purpose.

—– Original Message —–
From: Hugh Sharman
To: Alasdair Cross
Sent: Friday, March 18, 2011 12:23 PM
Subject: EU ETS second phase has cut GHG emissions by 0.33%

Many thanks. It was a compelling piece of investigative reporting. I will now down-load and save the podcast.  Some time ago, trying to unearth the scale of the VAT fraud associated with the EU ETS, I found the following link at Europol,

The scale of this fraud makes the Great Train Robbery look like a very minor infraction!

How does a €5 billion fraud (costing all Euro consumers), in a process that clearly benefits only bankers and traders, get so little press, I wonder?  There is enough data there for a follow-up report by you, me thinks?

Kindest regards,

Hugh Sharman

On 3/18/2011 10:46 AM, Alasdair Cross wrote:
I’m afraid we don’t do transcripts although you can download a podcast
of the programme.  The World Bank says that the first phase made small
cuts, the second phase is on course to cut emissions by a third of one
percent.  And yes, a very good question on the total cost, one we
weren’t able to answer with any confidence. 

Sender’s message:
 Is it possible to get a written transcript of your excellent
programme on carbon trading.

So carbon trading has not reduced CO2 emissions at all?

Next question, how much has this useless activity cost the European tax
payers so far?

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