Posted BY: Bill | NwoReport
(Natural News) South Pole, the world's leading seller of so-called carbon "credits," is not what it claims to be.
When it was first hatched, the operation, co-founded by Renat Heuberger, branded itself as a solution to the climate problem of deforestation. By selling carbon offsets to businesses bound by "green" mandates, South Pole would generate a profit to funnel back into local communities and organizations aiming to conserve the environment – or so the South Pole told its customers.
In practice, South Pole hurtled towards a valuation of $1 billion while its clients were left holding the bag. Such is the nature of the market for carbon credits and other green scams.
The company's biggest project right now is called Kariba, located in Zimbabwe. The South Pole claimed that it would help prevent the annihilation of a forest nearly the size of Puerto Rico, but this has not happened.
Several outside experts conducted an analysis of Kariba and found that it vastly overestimated the extent of preservation actually taking place. Companies like Gucci, McKinsey, and Nestle that purchased Kariba credits to offset their own contributions to "climate change" and "global warming" are now having to backtrack their own climate claims "because the Kariba credits they bought haven't generated enough real atmospheric benefit," to quote a report from Bloomberg about the scandal.
"Most of Kariba's €100 million in proceeds have gone to the South Pole and its project partner, a company called Carbon Green Investments, not – as both companies previously indicated in interviews and public blog posts – to people in the rural communities who do the work of fighting deforestation," that same report indicates.
(Related: In 2016, we reported that climate change profiteers had already at that time created a $53 billion market based on fear and fraud.)
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