Page 57 - Carbon Frauds and Corruption

Corruption of Bribery

Chapter 6 : Corruption in the “Carbon World”

administers an Adaptation Fund which is accumulated by a 2% contribution from CERS and used
for green investments, at the discretion of the Adaptation Committee.

By September 2011, 712,155,583 CERS had been issued with the top 5 countries as shown on Table
2

Host Country (Beneficiary of CDM) CERS Issued Per cent

China 408,919,730 57.42
India 112,173,710 15.75
South Korea 74,696,182 10.49
Brazil 57,377,109 8.06
Others 58,998,852 8.28
Total 712,155,583 100
Table 2: Host Countries of CDM Projects
The Investor countries were as shown on Table 4:

Investor Country Number of Per cent
Projects

United Kingdom 1,168 29.58
Switzerland 793 20.8
Japan 440 11.14
Netherlands 402 10.18
Sweden 276 6.99
Germany 194 4.91
Spain 113 2.86
France 108 2.73
Italy 70 1.77
Others 385 9.75
Total 3,949 100
Table 3: Sponsoring Countries of CDM Projects

It should be noted – on the old self‐flagellation theory – that the UK is setting yet another
example.
8.2.3.3 The Adaptation Fund

Two per cent of all CERS issued are retained by the UNFCCC and credited to the Adaptation Fund
which is supposedly to be used to finance green investments in Less Developed Countries. The
fund currently holds approximately 7,380,108 CERS to be disbursed at the discretion of a
subsidiary UNFCCC board consisting entirely of representatives from LDCs. This is no different
than putting Dracula in charge of the blood bank.

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