UN Risks ‘Huge Mistake’ in Carbon-Trading Probe: Energy Markets
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A United Nations investigation into alleged improper claims for hydrofluorocarbon-pollution credits threatens to choke off investment in projects to curb emissions, according to Bill Clinton’s former adviser on global warming.
UN regulators froze new credits as they began a probe on July 30 into allegations by CDM Watch, an environmental lobby group, that some plants emitting hydrofluorocarbons were unfairly exploiting the system. Should the inquiry lead to new limits on expected credits, investors would abandon the UN market, the world’s second-largest greenhouse-gas program, said Dirk Forrister, head of Clinton’s 1997 task force on climate.