That is tedious and time-consuming and so it became more common to use financial institutions like banks and shell companies. In the 21st century there is a new method; going green. Environmental groups are not going to ask a lot of questions if you want to create a company and then just sell your carbon credits.
That opened up a new criminal opportunity - the carbon trading market is so amateur that small-time crooks can just steal the credits from the carbon registry, the 'stock market' for carbon credits.
Carbon trading is pretend money that can be turned into real money - a company like BP can be duped into buying stolen credits on the carbon stock exchange - and Europe's carbon trading ends up helping people even less than previously believed.
The Hack That Warmed the World By McKenzie Funk at ForeignPolicy.com