Home
Regulation as Corruption in the Carbon Offset Markets

Not all markets can be regulated effectively. Two examples are the markets for advanced credit derivatives – largely responsible for the current economic crisis -- and the growing carbon markets that are claimed to be capable of addressing global warming and that are the particular subject of this draft chapter. The attempt to regulate such markets does little more than create an illusion of governance where none actually exists. That only allows the dangers to grow larger.

Cuando la regulación se convierte en corrupción: El caso de los mercados de compensación de carbono

No todos los mercados se pueden regular con eficacia. Un ejemplo son los mercados de derivados de crédito que son una de las causas de la crisis financiera. Otro ejemplo son los mercados de carbono que constituyen la "solución" al calentamiento global, favorecida por la mayoría de los gobiernos del mundo. El intento de regular estos mercados no hace más que crear una ilusión de una gobernabilidad que en realidad no existe. Esta ilusión sólo permite que los peligros crezcan más.

Sustaining corruption legal challenges in a hostile political environment when corruption investigations have not been sustained

This presentation at the 13th International Anti-Corruption Conference highlights the contrast between the UK government's stated commitments to tackling bribery and corruption and its actions in practice. Far from having a "lack of political will", it is argued that the government has immense political will to protect powerful companies from prosecution for bribery, and has thereby created a hostile political environment for fraud investigators and prosecutors.

Climate Markets

Will current plans to expand carbon trading in the US and elsewhere work? No. Carbon trading is aimed at the wrong objective, squanders resources on the wrong things, requires knowledge and institutions that do not exist, is antidemocratic, interferes with positive solutions, and puts ideology above experience.

Hold the Applause

The European Union claims that it is "on track" to meet its modest Kyoto Protocol emissions targets. It is not. Much more importantly, it is not "on track" to wean itself off fossil fuels -- which is the real point of climate change mitigation efforts.

Offshore financial centres: past, present, future

On 12-13 March 2009, development, environment and human rights groups from Belgium, France, Italy, Ireland, Switzerland and the UK, and local residents of the island of Jersey organised a seminar to discuss the necessity for tax haven reform and to exchange views on how governments and civil society can work towards achieving a "just transition" for tax havens that would not impact on poorer residents.

"It's The Economy Stupid"

At the beginning of 2009, activist comedian Mark Thomas decided to do a weekly show about the meltdown of the world's economy. "It's The Economy Stupid" combines stand up comedy with interviews with invited guests -- economists, academics, MPs, trade unionists, journalists (and members of The Corner House) -- on stage to explain what happened, find out what is going on, and explore what we can do about it.

Serious Fraud Office win appeal in the House of Lords as public outrage continues

The Corner House and CAAT issued this press release after the House of Lords (the UK's highest court) overturned the High Court's ruling of April 2008 that the Director of the Serious Fraud Office (SFO) had acted unlawfully when he terminated a corruption investigation into BAE Systems' arms deals with Saudi Arabia. The law lords judgment confirms that the UK is in flagrant breach of its duty to implement and give force to the OECD Anti-Bribery Convention.

Opinions of the Lords of Appeal

On 30 July 2008, five Law Lords overturned the High Court's ruling of April 2008 when they stated that the SFO Director had acted lawfully in stopping a corruption investigation into BAE Systems' arms deals with Saudi Arabia when faced with a threat to national security. They stated that the Director's discretion to drop criminal proceedings extended legally to taking account of the threat uttered by Saudi Arabia that it would withdraw diplomatic and intelligence cooperation with the UK if the investigation continued, even though the threat was "ugly and obviously unwelcome".

UK Government rushing through emergency legislation to weaken export credit agency's human rights and environment rules

The UK Government is using emergency powers to amend the Export and Investment Guarantees Act 1991 governing the Export Credits Guarantee Department (ECGD), so that exporting companies can apply for insurance after they have started constructing their overseas projects (such as oil and gas pipelines, hydroelectric dams and power plants). The amendments would enable companies to circumvent the Department's human rights, environment and sustainable development safeguards.

BAE terminates Government insurance for controversial Saudi arms deals

BAE Systems, the UK's largest arms company, has cancelled all its public insurance for its controversial arms sales to Saudi Arabia. The company's decision came to light as a result of legal correspondence between The Corner House/Campaign Against Arms Trade with the UK Export Credits Guarantee Department (ECGD) and subsequent parliamentary questions tabled by Vince Cable MP. By cancelling its insurance, BAE has let the ECGD off the hook from possible legal action over its support for the Saudi deals.