Monday, October 17, 2011

UN carbon dioxide swindle market has shrunk by nearly 80% since 2007

Ambitious Climate Limits Needed to Rescue UN Market, EU Says - Bloomberg
The United Nations’ carbon program, the world’s second biggest, needs “ambitious” emission- reduction targets to rescue a market that has shrunk by nearly 80 percent since 2007, according to the European Commission. Greenhouse gas credits dropped to a record.
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The UN Clean Development Mechanism, which generates credits for investment in emission-reduction projects in developing countries, shrank to $1.5 billion last year from $7.4 billion in 2007, according to World Bank estimates.

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