Published by Diana on 14 Apr 2008
Ever wonder what happens when you buy carbon offsets?
This company Ecosecurities Group is one of the companies that creates a market in carbon offsets. Its founders, according to today’s Wall Street Journal, are multimillionaires. “Marc Stuart and Pedro Moura Costa have become multimillionaires in a booming new market designed to fight global warming.” (WSJ, 4/14/2008, “Two Carbon Market Millionaires Take a Hit as UN Clamps Down”).
Apparently, Ecosecurities has a bit of trouble actually delivering those carbon offsets, even though it is (according to its own web site) “one of the world’s largest developers and suppliers of emission reductions, for both the compliance and voluntary markets.”