Page 94: The Private Eye Podcast 109: The Footies #3: Taking the OPIS
Jun 7, 2024
Investigative reporter Humberto Rocha discusses dodgy dealings in Big Carbon, exploring how companies strategically benefit from carbon trading in the EU, discrepancies in free carbon permits allocation, validation of emissions data through satellite imagery, and potential decarbonization policies including carbon border tariffs.
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Carbon Market Incentive
- Companies must buy carbon allowances to offset their emissions.
- This incentivizes them to reduce pollution.
Total Energies Case
- Total Energies' Grand-Puis refinery emitted only 78 tons of carbon in one year.
- Yet, they received 120,259 carbon allowances, highlighting a flaw in the system.
Profiting from Free Allowances
- Companies can profit by receiving free allowances for minimal emissions, then selling them.
- This is driven by high demand and rising carbon prices.