Europol Reports Massive Carbon Credit Carroussel Fraud

Published 09th December 2009 - 2 comments - 1795 views -

European crimefighter Europol, based in The Hague, on Wednesday reported a massive fraud with the EU's Emissions Trading System that has cost European taxpayers more than 5 billion euros. In some countries, the fraud accounted for up to 90 percent of the total volume in the market for rights to emit carbon.

France, the Netherlands, the UK and Spain are the countries most affected, said Europol in a statement.

Mr. Wainwright, Director of Europol, says "These criminal activities endanger the credibility of the European Union Emission Trading System and lead to the loss of significant tax revenue for governments. Europol is using its expertise and information capabilities to help target the organised crime groups involved”. Europol has therefore offered its support to the European Commission - DG Environment to safeguard the integrity of the Community Independent Transaction Log."

Europol has prepared this graphic to illustrate the fraud.

 

Category: Greenhouse Gases, UN Climate Change Conference 2009, | Tags:

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Raymond Frenken
The Netherlands
Freelance Journalist, European Journalism Centre, Trainer



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