New Green Scam: Light Bulb Carbon Credits

Mexico will earn a royalty on carbon credits generated from energy-saving light bulbs through a world-first deal that could pave the way for other developing countries to fund emissions cuts, an investor said on Monday. Under the project, an Australian company, Cool nrg International, advised by Bank of America Merrill Lynch, will distribute 45 million energy efficient lightbulbs supplied by Philips Electronics to 6.5 million low-income households in Mexico City.