United Nations envoys approved carbon capture and storage projects in the developing world as eligible for greenhouse-gas offsets, a “great success” for climate protection, said Nobuo Tanaka, executive director for the International Energy Agency.
“If that is accepted, it is a great success,” Tanaka said in an interview in Cancun prior to the final endorsement by UN envoys early today. The Clean Development Mechanism is the world’s second-biggest carbon market by trading volume after the European Union greenhouse-gas program.
