Carbon discredit
The Clean Development Mechanism must be amended. What shape should it take?
The Clean Development Mechanism (cdm) is up for review and there are several proposals to reform the process. The mechanism has always been under severe criticism, since its inception, on various accounts, ranging from its philosophical principles to its administration.
The mechanism was created to help the developing nations to access finance required to implement projects that would reduce emissions below a certain defined level. On the other hand, the same process is also expected to help developed nations to reach their emission reduction targets by paying for emissions avoided in the developing nations. But, over a period, the practice has turned out to be a process that has hardly helped avoid emission in the developing countries; moreover, it has provided emissions credits to the rich countries at a cheap rate.
Double agents
From its inception, the operations to promote