Global carbon trading system has ‘essentially collapsed’

What sort of energy source is available around you, that’s the right one. cannot decide

THE INTERNET POST

The UN clean development mechanism, designed to give poor countries access to green technologies, is in dire need of rescue

BP  India wind energy investment, Suzlon Energy windfarm in Dhule
The clean development mechanism is in dire need of rescue, according to a UN panel. Photograph: Corbis

The world’s only global system of carbon trading, designed to give poor countries access to new green technologies, has “essentially collapsed”, jeopardising future flows of finance to the developing world.

Billions of dollars have been raised in the past seven years through the United Nations‘ system to set up greenhouse gas-cutting projects, such as windfarms and solar panels, in poor nations. But the failure of governments to provide firm guarantees to continue with the system beyond this year has raised serious concerns over whether it can survive.

A panel convened by the UN reported on Monday at a meeting…

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