Three energy firms accused of carbon offset scam

Forest protection efforts must not be financed through the carbon market, Greenpeace insisted on Thursday as it claimed three energy firms involved in a forestry project in Bolivia had exaggerated emission reductions achieved through the scheme.

BP, Pacificorp and American Electric Power reported savings of 7.4 million tonnes of CO2 through the Noel Kempff Climate Action Project between 1997 and 2004, according to Greenpeace. But third party auditors found only 5.8 million tonnes were saved over the project's full 30-year lifespan, it adds.

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