Almost €87 million has been spent on carbon credits to “pretend” Ireland is meeting it emission targets, it was revealed yesterday. Seán Fleming, chairman of the public accounts committee, said the country’s attitude toward the environment and its international climate obligations was a “charade”. He said the state was spending large sums of money to “buy our way out of pretending” climate targets were being met. Purchasing carbon credits has formed part of Ireland’s strategy to comply with its 2020 EU emissions reduction targets. The move can help it avoid larger fines for failing to meet the targets. The credits are purchased by the National Treasury Management Association from the Clean Development Mechanism (CDM), a UN scheme that allows countries to offset their emissions by buying credits from other countries.
Times 14th June 2019 read more »