◆ New Energy Finance takes a dig at Europol’s estimate that it has cost €5bn in lost taxation, saying it doesn’t chime with their analysis
New Energy Finance estimates that about 400 million metric tons of trades may have been fraudulent last year, or about 7 percent of the total market, including futures transactions.

The Europol figure indicates about 27 percent of the market was fraudulent over the 18-month period, or 1.9 billion tons. That’s based on VAT of 17 percent, an average carbon-allowance price of 15.80 euros a ton and 7 billion tons traded in the period.
◆ The Point Carbon survey published questions about fraud in the Clean Development Mechanism (CDM) projects
Fifteen per cent of the 890 respondents from organisations covered by carbon regulation said they had seen fraud, embezzlement, or corruption in a CDM or Joint Initiative project.

China was the country mentioned most often in connection with this fraud, and Point Carbon says kickbacks to developers was the most commonly remarked-upon type of fraud particularly where state companies were involved. The opposition side claimed that it destroyed country's image.
◆ The comments also apparently highlighted fiddling of accomodation and travel expenses by verifiers as another of the main types of fraud