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How a Chinese firm ran a billion-euro carbon credit scam

When Stefan Schreiber decided to invest in a carbon emission reduction project with a Chinese company, he was convinced he was dealing with a trustworthy business partner. “They made a very professional impression: the way they presented themselves, the way they communicated,” he said.

DW met Schreiber in a meeting room at his company’s plant in Schwedt, a town near Berlin. The office overlooked huge pipes and tanks, and trucks trundled past. Schreiber is a board member of Verbio, a German biofuel producer that also trades carbon certificates.

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