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businessgreen.com - 28 days ago
Campaigners warn carbon markets will trigger next sub-prime crisis
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Business Green: Carbon cap-and-trade schemes are a dangerous distraction and could trigger the next sub-prime financial crisis, according to environmental campaigners and academics. In a report released today, Friends of The Earth says that carbon markets have been hijacked by financial ...

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Peak Oil News:  Campaigners warn carbon markets will trigger next sub-prime crisis

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Campaigners warn carbon markets will trigger next sub-prime crisis
Peak Oil News — ... states. "Far from proving to be an economically efficient instrument, carbon trading and offsetting have been beset by inefficiency and, in places, corruption and are set to become the next sub-prime crisis," said professor Steve Rayner, director of the Institute for Science, Innovation & Society at the University of Oxford. The report says carbon trading is being used as a smoke screen by rich countries to avoid their commitment to help developing nations tackle climate change. Business Green

Related: subprime financial crisis
Could Cap and Trade Cause the Next Subprime Mortgage Scale Financial Crisis? — TreeHugger
Photo via First Strung A new report from the Friends of the Earth says that cap and trade systems are dangerous. They allow traders to package emissions permits into complex financial products and sell them in bundles--much like they did with subprime mortgages. And we all know how that ...