China questions review of controversial carbon program
A Chinese government fund has told a U.N. panel it supports project developers that earn carbon offsets under a lucrative Kyoto Protocol program, and rejects the idea that they are overcompensated.
Chinese project developers rejected key grounds for a review of Kyoto's clean development mechanism (CDM), and the China CDM Fund supported them, confidential papers showed a week before a U.N. panel decides whether to launch a formal review of the program.
The projects are the most lucrative under the CDM, which allows rich countries to buy offsets from carbon-cutting projects in the developing world as a … Read more