It's all so confusing: We've allegedly had an unprecedented amount of CO2-induced bad weather this year; also, the climate swindle has allegedly done a tremendously good job of preventing CO2-induced bad weather

AFP: Cloud hangs over climate finance

Martin Hession, the chair of the CDM executive board, acknowledged a hardening of positions during talks but said that the program had an ongoing mandate from the Kyoto Protocol that does not end in 2012.

He argued that the CDM -- which forecasts its projects will reduce 2.7 billion tons of carbon equivalent by the end of 2012 -- has made a "massive contribution" both to climate change mitigation and sustainable development.

"For me, the impact is plainly overwhelming," he told AFP in Panama City where the latest talks under the UN Framework Convention on Climate Change are underway.
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Transactions in the CDM market have stagnated and amounted to $1.5 billion last year, less than in 2005 when the Kyoto Protocol took effect, according to the World Bank study.