No wonder there's a revolt, China and India selling Carbon Credits because they are exempt from regulations under Kyoto, only monitor and report?????????
Quote:
"The International Emissions Trading Association and World Bank estimate that the market for carbon credits has increased to US$2.3 billion in the first nine months of 2006 and that the overall carbon market is now worth more than US$21.5 billion," says Mr. Karmali. "Hitherto, however, China and India have been the main carbon credit sellers. The MCCF initiative is critical to ensure that the transitional countries also maximise the opportunities presented under the Kyoto Protocol's Clean Development Mechanism."
http://www.thefreelibrary.com/ICF+In.....-a0155992657
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Quote:
China overtakes U.S. in greenhouse gas emissions
Bloomberg News
Published: June 20, 2007
LONDON: China overtook the United States in 2006 as the world's biggest emitter of carbon dioxide, the greenhouse gas blamed for the bulk of global warming, a policy group that advises the Dutch government said.
China produced 6,200 million tons of carbon dioxide from burning fossil fuels and making cement last year, the Netherlands Environmental Assessment Agency said Tuesday on its Web site. That pushed it past the United States, which produced 5,800 million tons of the gas, the agency said.
http://www.iht.com/articles/2007/06/...iness/emit.php
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OMG what a joke! I recently read an article that estimates China as the number one polluter with green house gases, surpassing the United States. Yet they are selling carbon credits? This system will surely fall apart this way.
Just so I understand correctly, China is the largest producer of CO2, China is mandated under Kyoto to monitor and report
ONLY, China can and is selling carbon credits due to their exempt status, yet the United States and other countries are expected to
PAY?
Here's a little more methane
to that ridiculous idea.