European firms claim first CDM carbon credits

The first ever carbon credits have been issued under the Kyoto protocol's clean development mechanism (CDM). The scheme enables firms from industrialised countries to claim credits from emission reduction projects in developing countries. The CDM executive board announced on Thursday that it had approved a first tranche of certified emission reductions (CERs) for two hydroelectric projects in Honduras, one with investment from Italy and the other with investment from Finland. There are now 26 registered CDM projects and 300 awaiting validation, the board added. See press release.

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