Wednesday, December 2, 2009

World Bank: Climate Profiteer

In light of Climategate, I am going to repost info I had put up just over a year ago. Links available in original post.

If Carbon dioxide is the real issue, how is it possible to trade carbon in a profit making manner?
If the idea is REALLY to reduce carbon dioxide, then one would think carbon trading would have, should have, extremely limited trading potential?

World Bank: Climate Profiteer

The World Bank is perhaps the best example of how one institution can use carbon trading for profit, while continuing to finance projects that make the climate grow more unstable. The Bank’s growing number of carbon funds were the subject of a recent report by Janet Redman, a researcher with the Sustainable Energy and Economy Network, a project of the Washington, D.C.-based Institute for Policy Studies. That report, “World Bank: Climate Profiteer,” found that the World Bank was charging a 13 percent commission on its more than $2 billion in carbon trades, while continuing to support fossil fuels. The report found that these World Bank carbon trade projects show little evidence of actual emissions reductions: Of the 83 active World Bank projects found in the Bank’s online project database, only nine have delivered Certified Emissions Reductions (CERs). The vast majority of these CERs came from a single industrial chemical project in China. That chemical project — the destruction of hydrochlorofluorocarbons, or HCFCs — is highly controversial as it potentially pits the Montreal Protocol to Control Substances that Deplete the Ozone Layer against the UN Framework Convention on Climate Change, by making it hugely profitable to destroy HCFCs, thereby potentially creating perverse incentives to continue to produce them.

Other key findings of the report include:

  • To date, less than 10 percent of all the funds flowing through the World Bank’s carbon trust funds are going to support clean, renewable energy, defined as wind, geothermal solar and hydro-electricity power plants with a generating capacity of 10 megawatts or less.
  • The bulk of the World Bank’s carbon finance portfolio (75 percent to 85 percent) has been directed to carbon trades involving the coal, chemical, iron and steel industries.
  • The World Bank Group is experimenting in the carbon market, without taking significant risks, knowing that projects with little added value can be readily dumped — for a profit — into the voluntary carbon market, a market that is entirely self-regulated.



    This is the Canadian Broadcast Standards Council.

    Write them and complain at the criminal negligence that our media is displaying wrt AGW.

    It's fraud, lying and misinformation all in one.

  2. You know Doug, oddly enough I was just at your blog, I had posted that last year, November 24th/08.
    It seemed like it needed to be brought forward.

  3. holy mackeral, maggie, before dougs I was at your place, what are we all on the same wavelength!?

  4. Cue: Twilight Zone music:

    doo dooo dooo do, doo do dooo doo///


  5. Excellent post. Really shows how the whole thing is profit driven including Lord Stern one of the most highly visable global warming alarmists who has a past buried in the World bank

  6. thanks dotconnector, glad you thought it of value :)

  7. Its really the basis of the new monetary system. The banks will collapse and carbon credits will be the new money IMO. Al Gore is connected to the Rothschilds through wedlock and we know the big banks have created the collapse and are the prime mover behind AGW.

    The value of the money comes from the permission given to breathe. These credits will need to be earned and will be the motivation to keep the slaves working.

    The value of money comes from slaves needing to work for. Other than this, it has no value.

  8. "You know Doug, oddly enough I was just at your blog, I had posted that last year, November 24th/08.
    It seemed like it needed to be brought forward."

    My first blogs were Dec '08. Which post are you talking about ?

  9. sorry doug, that was a garbled sentence.

    sometimes I just type.....

    I had initially posted this story here on my blog, more then a year ago.

    If you check back in the links you will find it.

  10. Thanks for this.

    Question: Who rakes in all the interest and profits from the World Bank?

  11. The IMF and World Bank are both owned by the Fed. So the Rockefellers, Rothschild, Warburg, etc usual suspects are the ones that rake in the big profits.

    Judges also have secret slush funds and the banks treat them very well for supporting their fake money. For more on this, see "The Occult World Of Commerce" from Jordan Maxwell. Its on Google and free.

    Maxwell and his partner explain the law-money link very well. Its a great presentation on law and money.

  12. Great answer doug, I hope slozo sees it and we shall have to all check out that book!