A Pollution Credit Trader Gone Bad

The designer of Southern California's innovative pollution credit market is arrested for fraud.
June 18, 2004, 7am PDT | Chris Steins | @urbaninsight
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"Sholtz helped the South Coast Air Quality Management District design a controversial pollution program called the Regional Clean Air Incentives Market, or RECLAIM. It allows more than 300 companies, including some of the region's largest businesses, to trade 'pollution credits' among one another, while capping the overall amount of unhealthful exhaust they are allowed to emit from their factories and power plants... Several companies filed lawsuits against her in 2001 and 2002, alleging that she could not account for pollution credits worth millions of dollars, kept their money or charged them for credits she could not produce."

Thanks to Chris Steins

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Published on Thursday, June 17, 2004 in The Los Angeles Times
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