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A fifth of UN carbon credits may be bogus

Guardian, November 29 2007

LONDON, Nov 29 (Reuters) - 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.

The United Nations runs a scheme under the Kyoto Protocol that allows rich nations to invest in clean energy projects in developing countries and in return receive certified emissions reduction credits (CERs) to offset their own emissions. But WWF said in a report that the credits are being delivered to projects that would have gone ahead anyway, even without the extra incentive provided by U.N. approval under the scheme, called the Clean Development Mechanism (CDM). Continued...

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