The Money and Connections Behind Al GoreÂ’s Carbon Crusade
Oct 3, 2007 ... A World Bank blog called the Private Sector Development Blog regularly features items touting Al Gore and the concept of carbon credits. ...
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Connect the Dots
In June 2006, the World Bank announced that it, too, had joined CCX, saying that it intended to offset its greenhouse gas emissions by purchasing emission credits through CCX. The bank says its credits would contribute to restoring 4,600 hectares of degraded pastureland in Costa Rica. Somehow, CCX has figured out that this is an amount equivalent to 22,000 metric tons of emission that the bank calculates are created by its activities.
A World Bank blog called the Private Sector Development Blog regularly features items touting Al Gore and the concept of carbon credits. Its articles typically announce corporate “green” initiatives in which carbon credits are said to cancel out “bad” CO2 emissions released by a company’s activities.
In fact, the World Bank now operates a Carbon Finance Unit that conducts research on how to develop and trade carbon credits. The bank works with Italy, the Netherlands, Denmark and Spain to set up carbon-credit funds in each country to purchase emission credits from firms for use in developing countries. In addition, it runs the Carbon Fund for Europe helping countries meet their Kyoto Protocol requirements. These funds are traded on the ECX (half of which is owned by CCX, itself a creature of Al GoreÂ’s firm, Generation Investment Management). Can we connect the dots?
A website affiliated with An Inconvenient Truth invites concerned citizens to personally fight global warming by offsetting their “carbon footprint.” The ways to do that include changing over to fluorescent light bulbs and turning down your thermostat at home. But the website also urges Americans to offset their personal CO2 emissions by “buying” carbon offsets from a native-American-owned company called Native Energy. Native Energy promotes “renewable” wind energy by buying and selling carbon-emission credits and futures for wind turbine projects on Indian reservations.
What the website doesn’t mention is that that the founder of Native Energy, energy industry veteran Tom Boucher, also founded a marketing company called Green Mountain Energy, a CCX associate partner that describes itself as “the nation’s leading retail provider of cleaner energy and carbon-offset solutions. Green Mountain offers residential, business, institutional and governmental customers an easy way to purchase cleaner, affordable electricity products, as well as the opportunity to offset their carbon footprint.” In other words, Green Mountain sells advisory services to energy users, alerting them to opportunities to contribute to or invest in groups like Native Energy.
So it seems banks and investment houses are going green, eager to enter an emerging emissions market. Meanwhile, environmentalists are discovering new ways to get rich while believing they are saving polar bears and rainforests."
GoreÂ’s Non-profit Agitators..........cont'
Force Everyone to Play........cont'