Dongyue Among 10 Companies in UN Carbon Credit Investigation, SCMP Reports

Dongyue Group Ltd., a Hong Kong- listed Chinese refrigerant-maker, is among 10 Asian companies being probed by the United Nations Clean Development Mechanism for alleged abuses aimed at profiting from the global carbon credit trading system, the South China Morning Post reported today. The 10, seven based in China, are suspected of producing excess amounts of HFC-23, a super greenhouse gas also known as fluoroform, that is then destroyed to produce carbon credits, the Post said without saying where it otained the information. Dongyue Co-Founder Cui Tongzheng denied the allegation, the Hong Kong-based English-language newspaper said.

To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net

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