Wednesday, August 6, 2008

U.N. to tighten rules on earning carbon offsets

It's going on eleven years since Kyoto, which set up the Clean Development Mechanism with it's Article 12. Why the hurry now?
From Reuters:
The U.N.'s climate change agency on Wednesday proposed to make it more difficult for speculators to earn carbon offsets from emissions-cutting projects which were already profitable....MORE
Never mind. That cow has been milked.
I see that the early (first 11 years) racket has to be cleaned up for:
EU, UN to link carbon trade schemes by year end, Brussels says

The European Union and United Nations have completed all the tests necessary to link their respective schemes for trading emissions of the greenhouse gas carbon dioxide (CO2) by the end of the year, officials in Brussels said Wednesday. A successful link-up would mean that European companies which sponsor emissions-reduction projects in developing countries such as China and India would be able to get credit for it at home....More at Earth Times.