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The UNs top climate official defended a global trading scheme to reduce greenhouse gas emissions after the US government released a report questioning its efficacy.
The General Accounting Office, the investigative arm of Congress, published a report Tuesday analyzing the UNs Clean Development Mechanisms, arrangements under the Kyoto Protocol that allow rich countries to meet their commitments to cut greenhouse gases by investing in projects
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Hector Ginzo
on Dec 8th, 2008
@ 5:03 am:
The reality is that the production of carbon offsets has not been used by developed countries to help them reduce their GHG emissions. On the contrary, these have been (on average) steadily increasing. But the whole offset thing has created a very profitable industry of project developers, validators, verifiers and certifiers, and offset traders. The offset alternative has become a business in itself, fairly away of its original purpose of complementing the emissions reduction effort. I agree with Mr. Hansen: offsets should be scrapped as a way to effectively abate climate change.
Chris
on Dec 8th, 2008
@ 9:32 am:
Thanks Hector for your perspective. The alternatives for reducing GHG emissions, whether by cap-and-trade or a carbon tax or other regulatory means is a bit more complicated. There’s some other surrounding this same issue.