18 Jul '11, 8am

New rules to open up Clean Development Mechanism to poorer nations

Efforts to open the UN-backed Clean Development Mechanism (CDM) offsetting scheme up to poorer nations took a major step forward last week as the board tasked with managing the scheme agreed new guidelines designed to make it easier for some of the world's least developed countries to deploy emission reduction projects. To date over 3,200 projects have been registered under the CDM, allowing emission reduction initiatives in developing countries to generate additional revenue by issuing and selling certified emission reduction (CER) offset credits. FURTHER READING World Bank reports 'stagnant' carbon market UN hails CDM milestone with 3,000th offset project But over half of CDM-approved projects have come from the large emerging economies of China, India and Brazil, prompting accusations that smaller and less developed countries are struggling to access a mechanism designe...

Full article: http://www.businessgreen.com/bg/news/2094621/rules-clean-...

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