Germany's Environment Agency invalidates 8 Chinese carbon credit projects due to suspected fraud.

Germany's Environment Agency (UBA) has invalidated carbon credit certificates from eight projects due to suspected fraudulent emission-reduction reports from China. These Upstream Emission Reduction (UER) projects, used by oil companies to comply with EU targets, are under global investigation by UBA, which plans to phase out such credits by next year. Concerns have arisen over the integrity of carbon credit markets, prompting scrutiny from a UN task force.

September 09, 2024
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