Four months after The Guardian and other European media outlets revealed the world’s leading carbon credit certifier sold worthless offsets to major corporations, the head of Washington-based Verra has stepped down.
“I am writing to let you know that after nearly 15 fantastic years as the CEO of Verra, I have decided to step down,” Verra’s CEO, David Antonioli, wrote in a LinkedIn post last week. He’s leaving the role after dominating the multi-billion dollar carbon offset market for years and certifying over a billion dollars in credits through its verified carbon standard (VCS).
Antonioli expressed gratitude towards the current and past employees and was proud of Verra’s accomplishments as the world’s leading standard-setter for climate action and sustainable development. He did not give a reason for his abrupt departure.
Antonioli’s exit comes four months after The Guardian, German weekly Die Zeit, and SourceMaterial, a non-profit investigative journalism organization, revealed a damning report on how Verra approved tens of millions of dollars of worthless offsets to Disney, Shell, Gucci, and other big corporations.
The report found Verrra issued “phantom credits” to major corporations that don’t represent genuine carbon reductions. Some corporations purchased these fraudulent credits and labeled their products as “carbon neutral.”
Days after The Guardian’s report in January, Antonioli rejected the findings, calling them “outlandish claims” and heavily defended Verra’s certification of carbon credits. But after all that, Antonioli is still stepping down.
Meanwhile, “Some firms are moving away from offsetting-based environmental claims, such as Gucci, which has removed a carbon neutrality claim from its website that heavily relied on Verra’s carbon credits,” The Guardian said.
Diego Saez Gil, the CEO of Pachama, a carbon offsetting firm, said Verra should update its programs to improve the company’s integrity. He told The Guardian :
“This is a pivotal moment for carbon markets. In order to scale the critical funding required for carbon sequestration at a planetary scale, we must ensure integrity, transparency, and real benefits for local communities and biodiversity. A new generation of innovative players is collaborating with standard bodies, academics, corporates, and communities, creating a new era of carbon markets that gives me hope.”
Despite having previously purchased “worthless” carbon offsets, companies such as JPMorgan, Disney, and BlackRock continue their ESG commitments. In particular, JPMorgan pledged hundreds of millions of dollars to purchase credits for carbon removal.
Insiders have spoken up about the murky ESG industry. Take, for example, an insider who told Bloomberg in 2021 that TotalEnergies SE orchestrated a “carbon-neutral” liquified natural gas shipment with China National Offshore Oil Corp on math that was “guesswork” and involved lots of “googling.”
Recall Elon Musk tweeted one year ago, “ESG is a scam. It has been weaponized by phony social justice warriors.”
As we noted earlier this year, “Carbon Credits Are The Biggest Scam Since Indulgences… How You Can Avoid Being Fleeced.”
June 1, 2023
Posted by aletho |
Corruption, Deception | ESG |
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By Drago Bosnic | June 1, 2023
After years of belligerent moves aimed at undermining China’s sovereignty and territorial integrity virtually everywhere, be it Hong Kong, Xinjiang, South/East Sea China or Taiwan, the United States is showing no signs of ever stopping with its aggression against Beijing. As if billions of dollars worth of weapons earmarked for China’s breakaway island province weren’t bad enough, including at least 400 anti-ship missiles and the latest F-16 Block 70/72 fighter jets, reports now indicate that Taipei and Washington DC are in talks about Taiwan gaining the protection of the US nuclear umbrella in a similar manner to Japan and South Korea.
According to RealClearDefense, citing local sources, Taiwanese foreign minister Joseph Wu announced that the island is in talks with Washington DC about possibly being brought under the US nuclear umbrella. RealClearDefense warns that the move would likely be seen by Beijing as a clear escalation and would likely greatly increase the potential for a future war with China. This assessment can only be considered an understatement, as the Asian giant is essentially guaranteed to respond directly to such escalation. Being under the American nuclear umbrella entails several key changes that would be absolutely unacceptable to China and would certainly provoke an adequate reaction.
The Taipei Times reported that local defense experts find this a “positive for Taiwan”. On May 23, Institute for National Defense and Security research fellow Su Tzu-yun stated:
“Taiwan’s national security doctrine explicitly rejects the development of nuclear, chemical and biological weapons of mass destruction, despite the nation facing the threat of such weapons being used against it. The extension of an ally’s nuclear umbrella over Taiwan would be significantly beneficial to Taiwan’s security.”
The nuclear umbrella is a deterrence policy stemming from the (First) Cold War and entails a nuclear power to guarantee the usage of its nuclear weapons to retaliate if its ally was exposed to a nuclear attack by any third party. This also includes the option of hosting US nuclear weapons, as was the case with countries such as South Korea between 1958 and 1991. Taipei’s Foreign Minister Wu made the comments about this possibility during a session with the Legislative Yuan (Taiwanese parliament). However, he declined to give any details about the talks and whether Taipei itself had asked the US to bring the island under its nuclear umbrella or if the initiative came from Washington DC.
“Regarding the discussion of this issue with the United States, it is not suitable for me to make it public here,” Wu said, as reported by The South China Morning Post.
Most US allies and satellite states/vassals are under the protection of its nuclear umbrella, including Japan, South Korea and every member of NATO, with nearly half a dozen member states (Belgium, Germany, Italy, the Netherlands and Turkey) even having nuclear sharing programs with Washington DC. As previously mentioned, giving the same or similar guarantees to China’s breakaway island province would require the US to use thermonuclear weapons in case of hostilities between Beijing and Taipei. It should be understood that in case Washington DC goes ahead with such an agreement, the question of Taiwan would become much more than just an issue of respecting Chinese sovereignty, territorial integrity and international law.
As per the (rather correct) assessment of The South China Morning Post, this idea is “an unthinkable prospect” for Beijing. Indeed, such a move would further internationalize the Taiwan dispute, as well as accelerate the potential formation of “Asia-Pacific NATO”, while jeopardizing China’s strategic security. Although the US has encountered significant hurdles with attempts to form yet another iteration of the North Atlantic geopolitical monstrosity, the belligerent thalassocracy likely believes that including Taiwan in its global nuclear umbrella would push others in the region to be more accepting of the idea of an “Asia-Pacific NATO”. How likely this is to work is up for debate, however, what it would surely cause is a dramatic surge in the potential for escalation and yet another step toward a world-ending thermonuclear conflict.
Although there is still hope that cooler heads might prevail in the Pentagon, the sheer number of warhawks in the US establishment makes the prospects of such escalation all the more possible and no less disturbing, particularly as top US generals are openly talking about the “inevitable war with China”. Such belligerence has already pushed China and Russia to further strengthen their already close ties in all aspects, be it economic, military, scientific, etc. The troubled Biden administration has already vowed to send troops and intervene if hostilities between China and its breakaway island province were to happen, which in itself was a borderline declaration of war. However, by including Taiwan in its nuclear umbrella, the question of war between Beijing and Washington DC would become “when” instead of “if”.
Drago Bosnic is an independent geopolitical and military analyst.
June 1, 2023
Posted by aletho |
Militarism | China, NATO, United States |
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Front Line Covid-19 Critical Care Alliance President, Dr. Pierre Kory, discusses his new book ‘The War on Ivermectin,’ launched in partnership with ICAN Press. The War on Ivermectin is the personal and professional narrative of Dr. Kory and his crusade to recommend a safe, inexpensive, generic medicine as the key to ending the pandemic.
‘The War on Ivermectin’ marks the launch of ICAN Press, a new division of The Informed Consent Action Network. Order your copy directly from ICAN, at ICANDECIDE.SHOP, today!
June 1, 2023
Posted by aletho |
Book Review, Science and Pseudo-Science, Timeless or most popular, Video | Covid-19 |
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