Page 2 - Carbon Frauds and Corruption

CARBON FRAUD No laughing matter...

A QUICK OVERVIEW

Carbon Intelligence is a specialist advisory division of Cobasco Group Limited –
operating world-wide - dedicated to preventing, detecting and investigating fraud Piercing insight into fraud
and other security abuses in the "Carbon World": starting with the validity of the initiating
science, to offset projects, through to carbon trading, exchanges, accounting, finance and protection
of an estimated $155 billion investment in new technologies.
Carbon Intelligence has piercing insight into fraud which enables commercial and
governmental Clients to protect their financial, legal, intellectual and reputational
assets and to ensure their Corporate Social Responsibility Programs (CSR) achieve
their goals. Specialists
Carbon Intelligence takes no sides in the Global Warming argument and is open
minded although determined to reduce its clients' exposures to fraud.

The False Claims Reporting Act
offers substantial rewards for anyone
who reports fraud against American
government agencies. In 2009 leading
international companies – all with
impressive ethics and CSR programs –
were fined more than $15 billion
for civil and criminal violations.

One leading pharmaceutical company
was fined $2.4 billion for the fraudulent
“off label marketing” of its products.
Yet the company’s ethical policy boasts
of its “Doing Business Responsibly".
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Three leading oil companies made a 30
year investment in a reforestation project
in South America that, throughout its life,
would generate 5.8 million tonnes of
carbon credits. Investigations conducted by
an environmental charity revealed that in the
first eight years the companies had claimed
over 7 million tonnes of credits under their
CSR programs: an apparent exaggeration
of 452 percent.

The bottom line is that ethical and
responsibility standards must be
enforced in every business context
in which they could be material:
written policies, charitable
“ Hey, Dad, what's an iceberg?” donations and carbon reductions
are just “greenwash”.

We are not climate scientists, economists or even politicians...
but we know fraud when we see it.

Page 01 - © Cobasco Group Limited 2010