Azara Blog: United Nations so-called Clean Development Mechanism is open to corruption

Blog home page | Blog archive

Google   Bookmark and Share

Date published: 2008/06/05

The BBC says:

Evidence of serious flaws in the multi-billion dollar global market for carbon credits has been uncovered by a BBC World Service investigation.

The credits are generated by a United Nations-run scheme called the Clean Development Mechanism (CDM).

The mechanism gives firms in developing countries financial incentives to cut greenhouse gas emissions.

But in some cases, carbon credits are paid to projects that would have been realised without external funding.

Is this supposed to be a surprise? And the BBC didn't even bother to mention (in the very long article) that the other undeserving main beneficiary of this corrupt system besides the companies being awarded the credits are the consultants and bankers who help set up these deals.

All material not included from other sources is copyright For further information or questions email: info [at] cambridge2000 [dot] com (replace "[at]" with "@" and "[dot]" with ".").