Environmental Markets Correspondent/Communities Editor
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Jun 19, 2012

UK CO2 fraudsters trade Rolls Royces for jail time

(Updates with firearms details)

By Michael Szabo

LONDON, June 19 (Reuters Point Carbon) – Three British men
have been jailed for a combined 35 years after being found
guilty of a 38-million pound ($59.5 million) tax fraud relating
to the EU carbon market, the UK’s revenue and customs agency
said on Tuesday.

Sandeep Singh Dosanjh, director of London-based KO Brokers
Ltd, was jailed for 15 years, Navdeep Singh Gill, director of
Infiniti UK Ltd, was jailed for 11 years and Ranjot Singh
Chahal, director of Wembley-based Allianz Group Ltd, received a
nine-year sentence, the UK tax authority said in a release.

Sep 30, 2011

India, 25 others oppose EU airline carbon charge plan

NEW DELHI/LONDON (Reuters) – European Union plans to charge airlines for carbon emissions are “discriminatory” and violate global laws, a group of 26 countries including the United States and China said in a joint declaration released by the Indian government on Friday.

India, which hosted a two-day meeting in New Delhi this week, said delegates from the non-EU countries, which are also members of the U.N.’s International Civil Aviation Organization (ICAO) executive council, agreed to lodge a formal protest against the EU’s new rules at the council’s next meeting.

Mar 5, 2011

Nets win NBA’s regular season debut in Europe

LONDON (Reuters) – The New Jersey Nets took the honors in the NBA’s first regular season game staged in Europe by beating the Toronto Raptors 116-103 on Friday.

With the Raptors and Nets anchored near the bottom of the Eastern Conference the game will have little significance other than marking another milestone in the NBA’s expansion plans.

Mar 5, 2011

Nets win league’s regular season debut in Europe

LONDON, March 4 (Reuters) – The New Jersey Nets took
the honours in the NBA’s first regular season game staged
in Europe by beating the Toronto Raptors 116-103 on Friday.

With the Raptors and Nets anchored near the bottom of the
Eastern Conference the game will have little significance other
than marking another milestone in the NBA’s expansion plans.

Oct 5, 2010

Bryant scoreless as T-Wolves stun Lakers in London

LONDON (Reuters) – NBA star Kobe Bryant went scoreless on Monday night, playing only six minutes as his 2010 champion Los Angeles Lakers were defeated 111-92 by a younger, hungrier Minnesota Timberwolves in a pre-season match in London.

Minnesota’s Martell Webster came off the bench to lead all players with 24 points, while teammate Michael Beasley scored 21.

Oct 2, 2010

Lakers’ Bryant to make brief appearance in European matches

LONDON (Reuters) – Kobe Bryant will play for a few minutes in the Los Angeles Lakers’ two European pre-season games as he rests his knee following offseason surgery, Lakers head coach Phil Jackson said on Saturday.

Bryant’s 2010 NBA champion Lakers will take on the Minnesota Timberwolves in a sold-out game on Monday night at London’s O2 Arena, then play FC Barcelona in the Spanish city on October 7.

Aug 27, 2010

EU’s carbon offset limits: a boon for brokers?

LONDON (Reuters) – New European Union proposals to limit the use of industrial gas carbon offsets in its emissions trading scheme from 2013 could be a boon for reeling carbon brokers as exchanges wait for clarity before they alter their offerings.

EU climate chief Connie Hedegaard said on Wednesday she is considering post-2012 limits for the use of offsets, called Certified Emissions Reductions (CERs), in the wake of concerns over the environmental integrity of a United Nations carbon finance scheme.

Aug 27, 2010

Analysis: EU’s carbon offset limits: a boon for brokers?

LONDON (Reuters) – New European Union proposals to limit the use of industrial gas carbon offsets in its emissions trading scheme from 2013 could be a boon for reeling carbon brokers as exchanges wait for clarity before they alter their offerings.

EU climate chief Connie Hedegaard said on Wednesday she is considering post-2012 limits for the use of offsets, called Certified Emissions Reductions (CERs), in the wake of concerns over the environmental integrity of a United Nations carbon finance scheme.

Aug 25, 2010

EU sees limit on industrial projects in CO2 scheme

LONDON, Aug 25 (Reuters) – The European Union’s top climate
official proposed on Wednesday new limits on the use of carbon
offsets from industrial gas projects in the EU’s emissions
trading scheme after 2012.

“The Clean Development Mechanism (CDM) has been successful
in some aspects but has also given rise to criticism, e.g. with
regard to environmental integrity,” said Connie Hedegaard,
Commissioner for Climate Action, in a statement.

Aug 23, 2010

W.Bank defends controversial HFC carbon-cut plants

LONDON, Aug 23 (Reuters) – The World Bank has defended its
investment in chemical plants accused by green groups of raising
production of greenhouse gas HFC-23 with the aim of incinerating
it to get extra carbon offsets worth millions of dollars.
Approved under the Kyoto Protocol’s $2.7 billion Clean
Development Mechanism (CDM) scheme, 19 plants mainly in China
and India are issued offsets by the UN for incinerating the
refrigerant waste gas called hydrofluorocarbon-23.

But environmental groups including Germany’s CDM Watch have
accused some of the plants, in which the World Bank is an
investor, of intentionally boosting refrigerant gas production
just collect more offsets by destroying it.

    • About Michael

      "Michael Szabo is an environmental markets correspondent based in London, UK. His focus is on carbon emissions trading, but also looks at renewable energy and climate change policy and science. He also manages the Global Carbon Forum."
      Joined Reuters:
      June 2005
      Languages:
      English, French
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