[Offtopic] UN clean development mechanism

[stephen at melbpc.org.au]

UN Turns to Web as World Warms

Print Correspondents at UN | September 06, 2007 
<http://www.australianit.news.com.au/story/0,24897,22371937-16123,00.html>

THE United Nations has launched a web portal to spur a market-driven 
trading service designed to help cut greenhouse gas emissions under the 
Kyoto Protocol.

The free CDM Bazaar <http://www.cdmbazaar.net> was unveiled by the UN 
Framework Convention on Climate Change, the parent treaty of the 1997 
Kyoto Protocol, to encourage an exchange of information among buyers, 
sellers and service providers involved in the scheme.

Under the portal named after Kyoto's clean development mechanism (CDM), 
projects that reduce greenhouse gas emissions in developing countries and 
contribute to sustainable development can earn certified emission 
reduction (CER) credits.

Industrialized countries with a commitment under the Kyoto Protocol buy 
credits to cover a portion of their emission reduction commitments under 
the Protocol.

CDM Bazaar allows participants to post information, such as potential 
emission reduction projects looking for financing, CERs available for 
sale, buyers looking for carbon credits to purchase, services available, 
carbon market related events, and employment opportunities.

"The CDM has seen exponential growth in number of projects, with strong 
interest in developing countries for projects and in developed countries 
for CERs," UN Framework Convention on Climate Change's executive 
secretary, Yvo de Boer, said in Bonn, the convention's headquarters.

"The CDM Bazaar will do just what its name suggests, help buyers and 
sellers, and all those that serve the market, get down to business," he 
added.

The Kyoto Protocol requires 36 industrialised countries to cut greenhouse 
gas emissions overall by at least five per cent below 1990 levels between 
2008 and 2012.

Earlier this year, the UN's Intergovernmental Panel on Climate Change 
(IPCC) warned that by the end of the 21st century, a warmer world faced a 
heightened probability of water shortage, drought, flood and severe 
storms, boosting the risk of malnutrition, water-borne disease and 
homelessness. 
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