Page 13 - Carbon Frauds and Corruption

CARBON FRAUD No laughing matter...

The “Rolling Stones” 2003 UK tour was
promoted as “carbon neutral”, with fans
(all three) being asked to pay to sponsor
tree planting in Scotland. It has since
emerged that the company managing the
scheme did not plant any trees, but bought
carbon credits from brokers while pocketing
around 90% of the amounts collected in
administration fees and profit.
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One offset provider’s website offers to fix its
price of voluntary carbon credits at around
£8 for anyone who wished to resell them.
The idea is that airlines, travel firms and
others will buy them to provide a service
to their customers.

But it is a very tempting proposition
for any crooked employee with enough
authority. He can set up his wife or mistress
in business (or both if he is also a professional
footballer): she buys the credits at £8 and
sells them to his employer for £20 plus
VAT. He approves the purchase invoices;
she pockets the “profit”.

A classroom scene in the year 2020

OUR PROMISE

We will:
• Always comply with the law in every jurisdiction in which we operate
• Remain sensitive to local aspirations and treat everyone with respect A firm promise
• Not accept any assignment where its integrity is in doubt
• Always give priority to our Clients’ interests and seek to surpass their expectations
by working with energy, commitment, independence and flair
• Work as mentors with Clients’ internal teams, willingly transferring our knowledge
and experience and providing additional resources where needed
• Maintain the highest quality and performance standards
• Never accept assignments which are beyond our specialist skills or capability or which
could conflict with an existing Client’s interests
• Report and account honestly for our work: if we cannot achieve a Client’s objectives
we will say so.

Our objective is to build long term, mutually successful relationships with
our Clients and to be recognised as global leaders in the fight against fraud
in the “Carbon World”.

© Cobasco Group Limited 2010 - Page 10