Carbon trading scheme 'target for scams'
Simon Harrison, a climate change law expert with Australian firm Herbert Geer, says the complex, lucrative scheme is open to rorts.
”The price of carbon fluctuates wildly, which presents a plethora of opportunities to rort the system,” Mr Harrison said.
”Secondly, profits from sales of credits will be reliant upon baselines.
”If a project produces fewer emissions upon completion than its pre-established baseline, the difference can be sold for substantial profit, providing project owners an incentive to exaggerate the baseline to receive more credits than they would otherwise be entitled to.”
He said the Australian Federal Police (AFP) did not have the resources to police the legislation once it starts on July 1, 2011.
Can't you just wait to see the mess we will be in when all this kicks off?
Read it here.