06 May '11, 7am

News [BusinessGreen]: UN hails CDM milestone with 3,000th offset project

The UN yesterday confirmed that its flagship Clean Development Mechanism (CDM) carbon offsetting scheme has reached a major milestone, formally registering its 3,000th project in the form of a wind farm in the Inner Mongolia region in China. The UN said the project, which will now be able to sell UN-approved Certified Emission Reduction (CER) credits, will reduce carbon emissions by more than 101,000 tonnes a year. FURTHER READING CDM board promises carbon offset outreach programme CDM carbon offsets top 500 million mark The carbon offsetting scheme allows businesses and governments in industrialised nations to reduce their greenhouse gas emissions by investing in emission reduction projects in developing countries, but it has been dogged by controversy since its formation as part of the Kyoto Protocol. Critics have accused the carbon trading mechanism of funneling funds t...

Full article: http://www.businessgreen.com/bg/news/2068593/hails-cdm-mi...

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News [Reuters]: U.N. Clean Energy Scheme Grows, 3,000 Projects So Far

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