Green Scams, Ctd

The time must surely come when even the Green Taliban will wake up and realise the mad, corrupt, carbon trading scheme is a monstrous failure.

In the latest in a long series of smart traders gaming the dimwitted bureaucrats, an Irish trading company has been pulled up after revelations that it planned to make $32 billion trading indigenous Amazon tribes’ carbon credits.

Celestial Green, the Dublin carbon credits business involved in deals with indigenous tribes in the Amazon, at one stage envisaged its rights there creating credits with a value of up to $32 billion (?24 billion), according to filings to the US Securities and Exchange Commission (SEC).

A spokesman for the company said yesterday it was ?surprised? that a case was being taken in Brazil against one of its deals there.

A federal attorney in the Brazilian state of Rondonia filed a lawsuit on December 11th which seeks to cancel a contract signed by Celestial Green Ventures and the Awo Xo Hwara indigenous community.

As part of the deal, the Irish company agreed to pay the local group $13 million over 30 years for the rights to explore carbon credits in an area of 260,000 hectares of rainforest.

?We currently have seven other projects which are being developed with indigenous communities in Brazil. As far as we are aware, only the Awo Xo Hwara agreement has had an application submitted by the prosecutor.?