The sad history of carbon carousels


Carousel fraud is no longer confined to

transactions involving goods. The recent

incidence of carousel fraud in themarket for CO2

emission rights demonstrates that carousels can

also involve intangibles. In this article, the

author discusses the trade in CO2 emission

allowances, the carousel fraud in the carbon

market and how the fraudmay affect legitimate

businesses operating in thatmarket, the

measures that were taken to combat the fraud,

and the ideas for amore comprehensive solution

to stop this type of fraud.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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