Dubious Chinese Carbon Projects Expose Depth of European Market’s Flaws

A Bloomberg investigation has raised concerns over several carbon credit projects in China’s Changqing oilfield that were approved by European authorities and used by companies across at least nine European countries. According to project documents, the projects were expected to avoid nearly 120,000 tonnes of CO₂e emissions through gas recovery systems. However, Bloomberg reporters, supported by BloombergNEF’s satellite and drone analysis, found that some project locations appeared undeveloped and lacked the emissions-capture equipment described in registration documents. The investigation also highlighted potential governance weaknesses in project verification and approval processes. Bloomberg noted that geographic verification in China is complicated by restrictions on mapping data and the use of the country’s “Mars Coordinate” system, which can affect location accuracy.
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