Evidence of serious flaws in the multi-billion dollar global market for carbon credits has been uncovered by a BBC World Service investigation.
The credits are generated by a United Nations-run scheme called the Clean Development Mechanism (CDM).
The mechanism gives firms in developing countries financial incentives to cut greenhouse gas emissions.
But in some cases, carbon credits are paid to projects that would have been realised without external funding.
The BBC World Service investigation found examples of projects in India where this appeared to be the case.
Arguably, this defeats the whole point of the CDM scheme, set up under the Kyoto climate change protocol, as these projects are getting money for nothing.
The findings reinforce doubts that the CDM is leading to real emission cuts, which is not good news for the effort to combat climate change.
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Wednesday, June 4
by
billdoskoch
on Wed 04 Jun 2008 11:58 PM EDT
by
billdoskoch
on Wed 04 Jun 2008 05:48 AM EDT
The fall of 2006, if you'll remember (and as the article notes), was the heaviest period of combat for Canadian troops since the Korean War. In any event, the military thought it was doing a good job on getting reporters to see the sunny side of life in the 'Stan:
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