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UN carbon emissions reduction system awash in cash as it claims to face hard times

Posted on 15 November 2013

The United Nations-administered cap-and-trade system for reducing greenhouse gases is sitting on a cash hoard of close to $200 million, even as it warns of hard times ahead that could impede its mission.
The cash cushion for the Geneva-based organization known as the Clean Development Mechanism, or CDM, amounts to more than 400 percent of the $45 million reserve that it considers a normal set-aside for rainy days, according to its recently published business plan for 2014-2015………………………………………..Full Article: Source


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