The VAT Carousel Fraud has seriously undermined the financial integrity of the European Union Emissions Trading Scheme (EU ETS). This timely book is the first to give an overview of fraud in the carbon market. Written by a former broker, it presents unique material on the carbon fraud mechanics and analyses the missing trader fraud (VAT fraud) on European carbon allowances markets with a focus on financial and organised crime issues. Fraud and Carbon Markets: The Carbon Connection assesses the weaknesses of the Kyoto Protocol and environmental markets, using statistics as a forensic tool on the capital markets. It describes specific cases, the court investigations and various mechanisms. It addresses issues of money laundering and international fraud on capital markets, such as stock manipulation, by exploring the financial mechanisms of the fraud, their impact on the market behaviour and the consequences on their econometric features. Researchers and students in climate change policy, environmental finance, financial law, organised crime, forensic statistics, financial regulation and risk management as well as financial regulators and policy makers will find this book of great interest.

This is a print on demand edition of a hard to find publication. Discusses carbon trading in the U.S. and various design and implementation issues to be considered in discussions about a national carbon trading program. Industrial activities in the U.S. emit significant amounts of carbon dioxide and other greenhouse gases each year, substantially affecting the earth¿s climates. Some have suggested capping emissions and allowing them to be traded in secondary markets just as other commodities are traded. This report provides info. on: (1) carbon-related products currently traded in the U.S. and the extent of trading; (2) risks and challenges posed by these products; (3) the extent to which and how these products are regulated; and (4) issues identified as part of creating a national cap-and-trade carbon market. Illus.

Carbon markets – both emission trading systems and baseline and credit systems – are an increasingly common policy instrument being introduced to address climate change mitigation. However, their design is crucial to ensure that they deliver cost-effective emission reductions while maintaining environmental integrity. This Element puts together a comprehensive, principle-based overview of the risks and abuses to environmental integrity and cost effectiveness that have emerged for carbon markets at all jurisdictional levels around the world, provides concrete examples, and offers effective policy and governance solutions to overcome such risks. This title is also available as Open Access on Cambridge Core.

Serving as an introduction to one of the "hottest" topics in financial crime, the Value Added Tax (VAT) fraud, this new and original book aims to analyze and decrypt the fraud and explore multi-disciplinary avenues, thereby exposing nuances and shades that remain concealed by traditional taxation oriented researches. Quantifying the impact of the fraud on the real economy underlines the structural damages propagated by this crime in the European Union. The ‘fruadsters’ benefit when policy changes are inflicted in an economic space without a fully fledged legal framework. Geopolitical events like the creation of the Eurasian Union and 'Brexit' are analyzed from the perspective of the VAT fraud, thereby underlining the foreseeable risks of such historical turnarounds. In addition, this book also provides a unique collection of case studies that depict the main characteristics of VAT fraud. Introduction to VAT Fraud will be of interest to students at an advanced level, academics and reflective practitioners. It addresses the topics with regards to banking and finance law, international law, criminal law, taxation, accounting, and financial crime. It will be of value to researchers, academics, professionals, and students in the fields of law, financial crime, technology, accounting and taxation.

The carbon markets are in the middle of a fundamental crisis - a crisis marked by collapsing prices, fleeing actors, and ever increasing greenhouse gas levels. Yet carbon trading remains at the heart of global attempts to respond to climate change. Not only this, but markets continue to proliferate - particularly in the Global South. The Politics of Carbon Markets helps to make sense of this paradox and brings two urgently needed insights to the analysis of carbon markets. First, the markets must be understood in relation to the politics involved in their development, maintenance and opposition. Second, this politics is multiform and pervasive. Implementation of new techniques and measuring tools, policy development and contestation, and the structuring context of institutional settings and macro-social forces all involve a variety of political actors and create new forms of political agency. The contributions study the total extent of the carbon markets, from their prehistory to their contemporary expansion and wider impacts. This wide-ranging political perspective on the carbon markets is invaluable to those studying and interested in ecological markets, climate change governance and environmental politics.

Environmental crime is one of the most profitable and fastest growing areas of international criminal activity. These types of crime, however, do not always produce an immediate consequence, and the harm may be diffused. As such, the complexity of victimization - in terms of time, space, impact, and who or what is victimized - is one of the reasons why governments and the enforcement community have trouble in finding suitable and effective responses. This book provides a diverse and provocative array of arguments, critiques and recommendations from leading researchers and scholars in the field of green criminology. The chapters are divided into three main sections: the first part deals with specific characteristics of some of the major types of environmental crime and its perpetrators; the second focuses explicitly on the problem of victimization in cases of environmental crime; and the third addresses the question of how to tackle this problem. Discussing these topics from the point of view of green criminological theory, sociology, law enforcement, community wellbeing, environmental activism and victimology, this book will be of great interest to all those concerned about crime and the environment.

A comprehensive look at the world of illicit trade Though mankind has traded tangible goods for millennia, recent technology has changed the fundamentals of trade, in both legitimate and illegal economies. In the past three decades, the most advanced forms of illicit trade have broken with all historical precedents and, as Dark Commerce shows, now operate as if on steroids, tied to computers and social media. In this new world of illicit commerce, which benefits states and diverse participants, trade is impersonal and anonymized, and vast profits are made in short periods with limited accountability to sellers, intermediaries, and purchasers. Louise Shelley examines how new technology, communications, and globalization fuel the exponential growth of dangerous forms of illegal trade—the markets for narcotics and child pornography online, the escalation of sex trafficking through web advertisements, and the sale of endangered species for which revenues total in the hundreds of millions of dollars. The illicit economy exacerbates many of the world’s destabilizing phenomena: the perpetuation of conflicts, the proliferation of arms and weapons of mass destruction, and environmental degradation and extinction. Shelley explores illicit trade in tangible goods—drugs, human beings, arms, wildlife and timber, fish, antiquities, and ubiquitous counterfeits—and contrasts this with the damaging trade in cyberspace, where intangible commodities cost consumers and organizations billions as they lose identities, bank accounts, access to computer data, and intellectual property. Demonstrating that illicit trade is a business the global community cannot afford to ignore and must work together to address, Dark Commerce considers diverse ways of responding to this increasing challenge.

This comprehensive source of information about financial fraud delivers a mature approach to fraud detection and prevention. It brings together all important aspect of analytics used in investigating modern crime in financial markets and uses R for its statistical examples. It focuses on crime in financial markets as opposed to the financial industry, and it highlights technical aspects of crime detection and prevention as opposed to their qualitative aspects. For those with strong analytic skills, this book unleashes the usefulness of powerful predictive and prescriptive analytics in predicting and preventing modern crime in financial markets. - Interviews and case studies provide context and depth to examples - Case studies use R, the powerful statistical freeware tool - Useful in classroom and professional contexts

This volume is devoted to management accounting approaches for analyzing business benefits and costs of climate change. It discusses future directions on carbon accounting, performance measurement and reporting as well as links between climate accounting and business processes, product and service development, supply chain innovation, economic successes and stakeholder relations.Companies are increasingly called on to contribute to combatting climate change and also face the challenges presented by climate-change related costs, risks and benefits. Risks can result from unpredictable weather conditions and government regulations, such as the EU emission trading system and new building codes. Climate change also offers numerous opportunities, such as energy efficiency innovations and carbon neutral products and production.Good management requires that carbon emissions are tracked and climate-related costs, risks and benefits are identified, measured and assessed. As such, research addressing corporate accounting frameworks and tools is of increasing importance when it comes to managing these carbon and climate-related issues.

Inhaltsangabe:Introduction: Climate change represents an ongoing threat, not only since it attracted growing media attention in recent years. Therefore, scientists urge to reduce the concentration of carbon dioxide in the atmosphere in order to prevent most disastrous consequences. One method, chosen by the international community to achieve this reduction and therewith mitigate global warming, is via the establishment of so called carbon markets. Most famous example is probably the European Emissions Trade System (EU ETS), where pollution allowances can be exchanged among actors. The reduction then is achieved by the setting of a ceiling or cap by authorities. Besides, there are also voluntary carbon markets where actors aim at reducing emissions with self-imposed targets. Objective of this paper will be to elucidate this unregulated market for carbon commodities and understand its functioning. Since voluntary carbon trading was largely criticised for a lack of quality and transparency, methods to overcome such weaknesses shall be presented and evaluated as well. Beginning with an overview of different systems of carbon trading, the reader will subsequently learn about existing and emerging carbon markets, their characteristics and performance. Notably compliance and non-mandatory schemes will be distinguished. Juxtaposition will allow for evaluating strengths and weaknesses of both systems. For gaining an understanding of the supply chain in the voluntary carbon market and comprehend underlying motivations, a presentation of market players will follow in the second chapter. Based on market actors motives, a model for high quality carbon commodities will be established in the third part, whereby criticism is also taken into account. An examination of instruments to enhance quality and to overcome shortcomings of non-mandatory markets will be examined in the following. The fourth chapter will provide an evaluation of and an outlook on the beforehand discussed quality mechanisms. Additionally, different scenarios will be developed in order to predict the future of voluntary carbon trading. Inhaltsverzeichnis:Table of Contents: Acknowledgementsii Executive Summaryiii Table of Figuresx Table of Boxesxi Abbreviations and Acronymsxi Introduction1 1.An Overview of Existing Carbon Markets2 1.1Regulated Markets4 1.1.1The Kyoto Protocol4 1.1.2European Emissions Trading Scheme6 1.1.3Other Planned Trading Schemes under the Kyoto [...]