Zuma's carbon credits donation 'questionable' | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 80%

United States News News

United States United States Latest News,United States United States Headlines

Former president Jacob Zuma last week presented a two million carbon credits to a new Zimbabwean carbon exchange. But, says the industry, the credits probably cannot be traded. | politicsblahbla News24_Business

Former president Jacob Zuma with a carbon credits cheque on behalf of the Belarus African Foreign Trade Association.The mystery around the donation of 2 million carbon credits to a new Zimbabwean-based carbon exchange platform by the Belarus Africa Foreign Trade Association has deepened with an authoritative industry source reporting that Belarus has never earned carbon credits itself that it could donate.

The presentation of the credits was done by former South African president Jacob Zuma, a board member of Bafta, who handed over a novelty cheque at a meeting in Victoria Falls on Friday. The cheque was for 2 million"emission reduction units" . Carbon Pulse, a subscription newsletter on carbon pricing and climate change policies, on Monday described the credits as"questionable". Carbon credits are issued under the Kyoto Protocol Joint Implementation Scheme and are created when a project causes a reduction in carbon emissions that would have gone into the atmosphere. The credit can then be sold to an emitter, enabling it to decrease its own emissions and therefore its carbon tax burden.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EXTRADITION: Former Mozambique finance minister Manuel Chang to fly to US to face graft chargesSouth African police have confirmed that the former Mozambican finance minister will be handed over to the FBI to face fraud and corruption charges.
Source: dailymaverick - 🏆 3. / 84 Read more »