Ethically Bankrupt: World Bank Defense of the HFC-23 Scandal

The United Nations Clean Development Mechanism (CDM) was created in 2003 to allow emission-reduction or removal projects in developing countries to earn carbon credits, each equivalent to one tonne of CO2. These certified emission reduction (CERs) can be traded and sold, and used by industrialized countries to a meet part of their emission reduction targets under the Kyoto Protocol. Since that time, CDM projects have generated almost
430 million offsets or CERs.

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