UN emission market needs urgent reform
The United Nations (UN) global carbon market requires substantial reform because it too often fails to support the projects and people it is meant to help, according to new research from the Economic and Social Research Council (ESRC). The research findings are released as the UN, which has designated 2012 the International Year of Sustainable Energy for All, begins a policy dialogue about its Clean Development Mechanism (CDM), under which companies are allocated tradable credits if they pay others to cut their carbon emissions. The CDM is designed to help finance investment projects