UK SEEKING CO2 TRADING INCREASE

The United Kingdom wants the rights to buy its way out of half its CO2 reduction targets, and they are not alone. Other European Union (EU) nations believe they should be allowed to trade away 50 percent of their emissions reductions -- up from the 30 percent currently allowed, says the BBC News. [snip]

The dispute centers on the credibility of the system used for trading international carbon permits -- the Clean Development Mechanism (CDM) -- arranged under the Kyoto Protocol, which allows rich countries to offset some of their emissions reductions by purchasing carbon credits which backer claim help developing countries get clean technology.

However, CDM is under fire because some investors are obtaining credits for projects in countries where they would have been built anyway, meaning that no CO2 is saved. Various reports suggest that up to 60 percent of CDM projects do not save additional CO2.

[so if it's not saving on dreaded CO2, why do it? A: the (huge, huge sums of) money. This thing is a scam from back to front - and coming to a United State near you soon...]

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