The Smell of Carbon
And could it be? Yes, I believe it is. The smell of the rich getting richer:
What'sThatOtherReallyBigSmell?Oh,TheUN
One in five carbon credits issued by the United Nations are going to support clean energy projects that may in fact have helped to increase greenhouse gas emissions, environmental group WWF said on Thursday.
Seriously, I've got to switch my savings into a World Bank account:
"One out of five emissions reductions credits sold under the Kyoto Protocol's Clean Development Mechanism (CDM) lack environmental integrity," WWF said in a statement. It said the problem damages the global carbon market, which is expected to more than double in value to around $70 billion this year. "The CDM is a new and very important tool and needs to be fine-tuned to reach its purpose," Stephan Singer, head of WWF's European Climate Policy Unit, said in a statement. The report recommends improvements in the CDM, a market worth some $5 billion in 2006 according to the World Bank.
