14.06.2024Germany’s €4.5 billion carbon offset fraud - Axel Michaelowa

In 2018, the German government launched a carbon offsetting programme in China. The legislature came into effect in 2020, and allows oil companies to meet legal climate emission targets in the transport sector through “upstream emission reduction projects” (UER), otherwise known as carbon offsetting projects. When drivers fill their cars with petrol, they are also paying for carbon offsetting projects in China. The programme has resulted in large-scale fraud.

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