Zurich Emerging Markets to insure controversial carbon credit projects

(Earthtimes, Washington, 20 February 2008) Zurich, a leader in political risk and trade credit insurance in emerging markets, has announced it will provide political risk insurance for carbon credit projects. However, NGOs argue that carbon trading and offsets distract attention from the wider, systemic changes and political action that needs to be taken in the transition to a low-carbon economy, e.g. promoting more effective and empowering approaches to climate change requires moving away from the false-economy of supposed quick fixes.