UN introduces new rules to Clean Development Mechanism
The United Nations has been very concerned for the world’s environment in recent years. The organization has been working to take steps to mitigate the potential effects of climate change. Part of the UN’s efforts take the form of carbon credits associated with the Clean Development Mechanism. This mechanism is designed to help countries achieve sustainable development through the use of clean energy and assist countries reduce the amount of emissions they produce. The Clean Development Mechanism is considered a viable way to tackle some of the problems facing the environment, but now it may be beginning to do more harm than good.
Mechanism aims to provide carbon credits to developing countries
Part of the goal of the Clean Development Mechanism is to help countries lower their emissions by adopting limitation policies, such as cap-and-trade schemes. This is accomplished by providing countries with carbon credits, which help them skirt the boundaries of emissions regulations without facing any penalties. Typically, these credits are available for countries that are making the transition toward clean energy. Late last week, The UN has determined that new coal plants will now be eligible to receive carbon credits as part of the Clean Development Mechanism.
New coal plants to be provided by with credits
The governing board of the Clean Development Mechanism introduced rules that will provide credits to new coal plants that are considered “supercritical” to developing countries. These countries rely on coal because of its relatively low cost when compared to clean energy systems. The UN has determined that such countries should not face penalties because of their reliance on coal. Instead, they are to be given credits that will help them avoid such penalties, but there are concerns that this move will not provide an adequate incentive for countries to develop clean energy systems.
Critics call measure “insane”
The move has been deemed as “insane” by some and the UN is experiencing a great deal of criticism because of its decision to include coal plants in a mechanism designed to curb emissions. Critics claim that what is happening with the Clean Development Mechanism is yet another example of the United Nation’s concept that carbon energy systems are the solution to carbon emissions.