The Big Carbon Credits Con

An Ecologist investigation reveals how the largest coal power plant to be awarded UN carbon credit funds is causing chaos by displacing poor communities and destroying forest in India.

As world leaders met in Durban for critical climate talks campaigners are calling for an urgent overhaul of the way the Clean Development Mechanism (CDM) is governed after an Ecologist investigation revealed allegations a CDM approved power plant in India has displaced poors familes and is destroying their forests.

The Sasan thermal power plant in Madhya Pradesh, owned by Indian energy behemoth Reliance Power, is set to become the largest coal power project awarded carbon credits under the UN’s flagship carbon trading scheme. The idea is that this allows industrialised countries to offset their pollution by investing in projects that reduce green house gas emissions in developing counties.

The reality is different.

During construction of the plant Reliance received finance from a collection of banks including UK-based Standard Chartered.

Get the full story at the Ecologist.

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