Last month (14 November), Japan became the first country in the world to receive its purchased allotment of carbon offsets from the UN, under a program considered critical for combating global warming.The carbon offset initiative has been widely touted as a win-win situation. Rich countries that have promised to reduce their greenhouse gas emissions can essentially pay developing countries to do it for them.But now that the carbon-offset program is open for business, it's time to acknowledge what has been apparent for some time. Despite the best efforts of proponents of the scheme, the poorest regions of the world — places that are awash in potential carbon offsets — are being shut out of a market now valued in excess of US$30 billion.
Publication year
2007
Authors
Language
English
Keywords
carbon, trade, emissions, greenhouse gas, global warming
