European Commission backs Kyoto CO2 trading reform

Reuters: The European Commission says it is standing by a call to overhaul U.N.-led carbon trading rules to make it more difficult for developing nations to earn offset credits from cutting greenhouse gas emissions. At present, rich countries can meet their own carbon emissions limits under the Kyoto Protocol by investing in clean energy projects in the developing world. That scheme, called the Clean Development Mechanism, needs reform after 2012, when the first round of Kyoto expires, ... Read »

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