Chinese Climate Project Fraud Exposed: A Billion-Euro Scandal: A Chinese company designed a climate project targeting oil wells in the country, claiming to prevent millions of tons of carbon emissions. However, investigations have revealed this to be part of a billion-euro fraud.
Insiders disclosed that while genuine projects cost crores of rupees, fake ones require only fabricated documents to secure millions of euros in funding.
The projects were acceded under a German scheme mandating companies to invest in international carbon-saving projects to meet their emissions reduction targets. A month-long investigation by DW and ZDF uncovered thousands of documents related to these projects.
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When cross-referenced with satellite images, it was discovered that… 16 projects were ineligible for the German scheme. These companies were not implementing new solutions as claimed.
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Take the project in the Xinjiang China region: the station purportedly convenes gas produced during oil exploration to save over 120,000 tonnes of carbon emissions annually.
The application stated the project commenced in September 2020. However, satellite imagery from 2019 showed the plant, including four LNG tanks, was already operational. Visible truck routes and security checks confirmed that work had started a year before the application proceeded.
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According to German regulations, the presence of any facility before the application renders the project ineligible. Despite this, the German environmental agency approved this project along with 65 others in China.
