Carbon credit check

Posted by Laura Grant on May 29, 2008
Posted in Green News

The United Nations Clean Development Mechanism, which was set up as a way to fund carbon emission reduction projects in developing countries, has been criticised by Stanford University academics who found that a large number of the projects applying for credits should not qualify for assistance, the Guardian reports. “They would be built anyway,” says David Victor, law professor at the Californian university. “It looks like between one and two thirds of all the total CDM offsets do not represent actual emission cuts.” Read the full Guardian article

ExxonMobil boss outlines environment strategy
AFP reports that US oil giant ExxonMobil has been forced by its shareholders to consider its environmental impact. Chairman and chief executive Rex Tillerson said his environmental strategy was to improve the efficiency of the company’s operations and develop products to help customers use oil and gas more efficiently. He did not make any promises to invest in alternative fuels, saying oil and gas would be the primary source of energy for a long time yet. Alternative energy sources such as wind, solar and biomass would grow dramatically, but would account for only 2 percent of global energy demand by 2030, he said. Read full report on Terra Daily

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