UN carbon markets `barely’ dent emissions, UNDP official says

The United Nations’ Clean Development Mechanism is “barely making a dent” on the amount of greenhouse gases being pumped into the atmosphere, an official at the organization’s development arm in Africa said.

“On a global scale CDM is barely making a dent,” Robert Kelly, the regional technical adviser for North Africa at the UN Development Program, said in a speech in Johannesburg today. “Over the course of the last five years, we’ve seen 7,000 CDM projects enter the pipeline. This has only led to a billion tons of reductions.”

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