Global Warming Rip-Off?
(Fox News) - People who are spending big money trying to cut their contributions to global warming may be getting ripped off. The Financial Times reports corporations and individuals are coughing up millions of dollars on carbon-offset projects that are in some cases worthless, and in others make little if any difference to the environment.
Some companies in the booming carbon offset industry are making millions by selling services of little or questionable value. The U.K.'s biggest bank went carbon neutral two years ago — but its environment adviser says he has found "serious credibility concerns" in the offset market. And the Times reports other companies — such as DuPont Chemical — are actually getting people to pay them to clean up the company's own pollution.
Some companies in the booming carbon offset industry are making millions by selling services of little or questionable value. The U.K.'s biggest bank went carbon neutral two years ago — but its environment adviser says he has found "serious credibility concerns" in the offset market. And the Times reports other companies — such as DuPont Chemical — are actually getting people to pay them to clean up the company's own pollution.
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