UN to Review Carbon Offset Program Threatened by Kyoto’s End
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The United Nations began work to preserve a key pillar of the carbon market as Brazil and China said the program had no future unless rich countries accept new goals for cutting greenhouse gases.
The UN Framework Convention on Climate Change said it would conduct a yearlong evaluation on how to improve the Clean Development Mechanism, according to a statement yesterday. The CDM program lets companies and nations earn credits to offset fossil-fuel emissions in exchange for sponsoring renewable-energy projects.