Sep
04
Climate Envoys Seek Successor to $33 Billion UN Carbon Market
By-
SDM would channel funds for fighting pollution to poor nations
- Push to agree on rules for market by the end of this year
After the United Nations’s first attempt to build a global carbon market fizzled from $33 billion to almost nothing, climate envoys from almost 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. Richer nations that provide much of the finance would get credits in exchange that go to help meet their commitments on reducing emissions, which may allow them to take on more ambitious goals..
Climate Envoys Seek Successor to $33 Billion UN Carbon Market
