The global exchange system designed to cut greenhouse gases through traded carbon credits is being gatecrashed by hundreds of projects that will actually increase the net amount of carbon going into the atmosphere, a report published today finds. As the latest UN conference on climate change opens in Bali, the report from International Rivers, an NGO based in California, warns of a surge in hydropower project developers seeking to use the UN's Clean Development Mechanism, which allows organisations in richer countries to emit extra greenhouse gases by paying for carbon credits to fund schemes in poorer countries that cut emissions - The Guardian
The United Nations tried on Sunday to tackle the most contentious obstacle to a global deal on climate change by prioritising mechanisms for reducing greenhouse gas emissions – Financial Times
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