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Cap-and-Trade System

UN cap-and-trade system : Good for China and India, but who else?

The United Nations-administered cap and trade system to reduce planetary greenhouse gases through investment in “green” projects in developing countries has directed most of its billions of dollars in investments to China and India, two of the world’s most notorious polluters.Indeed, China and India together have gotten more than 70 percent of the more than 4,100 projects so far registered for the system, while most developing nations, aside from a handful, have gotten hardly any at all, according to the system’s own accounts.At the same time, critics are charging that the system established under the controversial Kyoto Protocol to combat greenhouse gas emissions, and known as the Clean Development Mechanism, or CDM, is “costly, unpredictable, unreliable, prone to gaming,” and “counter-productive due to perverse incentives,” according to a consultants’ report prepared for the European Commission in Brussels last December.The question of whether it has, in fact, reduced global greenhou...

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  1. EU lawmakers voting on tightening cap-and-trade system to make carbon pollution more expensive

    European lawmakers are set to vote on whether to tighten the bloc's carbon emissions trading system and make pollution more expensive for companies.The outcome of th...

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