More Carbon Market Fraud?

Romania has blocked from selling carbon credits by the Kyoto Protocol committee. There have been "irregularities" in the country's carbon emissions data.

AFP - The Kyoto Protocol committee has blocked Romania from selling carbon credits over concerns about irregularities in the country's carbon emissions data, Romania's environment ministry said Sunday.

In December, Romanian Environment Minister Laszlo Borbely said the country hoped to earn some 1.5 billion euros ($2.2 billion) from selling carbon offsets.

But the committee that monitors Kyoto Protocol compliance decided to suspend Romania from the programme due to "irregularities observed" in Bucharest's 2010 greenhouse gas emissions data, the environment ministry statement said.

The suspension has immediate affect, and Bucharest must put in place an "adequate" system for monitoring emissions before it can resume selling carbon offsets, the ministry explained.

BTW: The European Carbon Market is Still Closed

The closure of the European carbon market is now extended indefinitely. The reason for the closure is fraud. I know you are thinking 'global warming fraud' and that is understandable. The 'fraud' the EU carbon market is being closed for is the old-fashioned kind. Hackers are stealing their carbon credits.

The European commission’s emergency suspension last week of trading in carbon allowances to put a halt to rampant theft of credits by hackers has been extended indefinitely until countries can prove their systems are protected from further fraud.