Global CDM market is all set to double in 2010, says new study

The global Clean Development Mechanism (CDM) is set to look up. The Certified Emission Reduction (CERs) credits issued under CDM would double by 2010, says new research by IDEAcarbon, a carbon rating agency. CERs are issued by the United Nations Framework Convention on Climate Change (UNFCCC) to projects in developing counties for reducing the emission of planet warming greenhouse gases (GHG). Reduction of one tonne of carbon dioxide per year earns one CER.

Climate change talks need a big push

Only political will at the highest level can break the ongoing deadlock in the global climate change negotiations. The biggest opportunity to give a push to the post-Kyoto talks is expected to come up during the UN secretary-generals climate change summit in New York on September 22, when more than 100 heads of state and government are expected to assemble, say sources involved closely with the preparatory talks.