NGO CDM Watch has called on the EU to bar UN offsets created through nitrous oxide (N2O) emission reductions from entering the EU emission trading scheme (ETS).
In a report released on Monday the pressure group claimed that the UN Clean Development Mechanism (CDM) has created perverse incentives for manufacturers in developing countries. This has caused ‘carbon leakage’ from developed countries and lead to the issuance of 13.5 million tonnes of “phantom” emission reductions.
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