| Until 2012, Europe was central to the global carbon market; heck, it was the only “real” market. Carbon offset project developers invested billions to earn Certified Emission Reductions (CERs) under the Clean Development Mechanism (CDM) and sold them to European companies and traders participating in the European Union Emissions Trading Scheme (EU ETS).
Projects had sprung up in almost all parts of the developing world. Countries otherwise isolated in the weird geopolitical arena, like North Korea and Iran, were also hosting CDM projects. With too much supply, the quality had to be affected...............................................Full Article: Source |