Climate Changed
Climate Envoys Seek Heir to $33 Billion UN Carbon Market
- SDM would channel funds for fighting pollution to poor nations
- Push to agree on rules for market by the end of this year
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After the United Nations’s first attempt to build a global carbon market fizzled from $33 billion to almost nothing, climate envoys from nearly 200 countries are meeting in Bangkok this week to give it another go.
The diplomats gathered in Bangkok this week are working on a so-called Sustainable Development Mechanism that would channel investment into projects that cut pollution in some of the poorest countries of the world.