Wednesday, February 02, 2011

Romania probes carbon credits theft from Swiss Holcim

Romania probes carbon credits theft from Swiss Holcim

This is an outrage. (Notice they call this a "scheme".) It should be placed under the RICO Act.

Late November, Holcim informed authorities about "10 unauthorised transfers of polluting rights from two of its accounts opened at the national registry of carbon credits."
Romanian prosecutors have requested rogatory commissions in Italy, Britain, Liechtenstein, Belgium and Israel.
According to Romanian daily Gandul, the polluting rights were first transferred to Liechtenstein and then resold.
The EU on Thursday extended a halt on trading in carbon credits ordered after hackers broke into national trading registries and stole and then sold millions of euros worth of polluting rights.
Trading was first suspended on January 19.
The European Union Emission Trading Scheme (ETS) is the largest multi-national, greenhouse gas emissions trading scheme in the world, with about 12,000 companies on the exchange

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