Carbon Market Fundamentalism

Wysham, Daphne
November 2008
Multinational Monitor;Nov/Dec2008, Vol. 29 Issue 3, p23
The article presents a discussion about carbon trading, particularly the Clean Development Mechanism (CDM). Originally published under the Kyoto Protocol, CDM aimed to assist countries in acquiring clean energy technologies through carbon credits. It is noted however that some industries are using CDM as subsidy while developed countries are making it an excuse not to lessen the amount of greenhouse gas emissions. It is also asserted that the World Bank is profiting from the CDM as it charges 13 percent commission on all of the carbon trades it brokers. INSET: WORLD BANK: CLIMATE PROFITEER.


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