The Human Cost of the Carbon Credits Scheme

The Human Cost of the Carbon Credits Scheme

WDM have organised an on-going campaign urging European Ministers to abolish the controversial carbon credits for coal projects. The United Nations have already suspending the scheme and the Durban Climate Change conference highlighted the global concerns of emission levels which are very high from coal plants
We are working with the World Development Movement (WDM)Filmed with locals living in Madhya Pradesh in India who have been directly impacted by the scheme,it features Eva Maria Filzmoser (Programme Director of CDM Watch), Professor Peter Newell (International Development, Sussex University) and Priya Tarsh (Greenpeace India).

: Campaigners at the recent Durban Climate Change conference demanded an end to the controversial carbon credits scheme. The initiative designed to encourage developing countries to build coal power projects was recently abolished by the United Nations, and now pressure is being place on EU ministers to follow suit in the future.

The UN’s Clean Development Mechanism (CDM) is designed to encourage global financial markets to invest in low carbon projects and has created a trading market worth USD$144 billion.

Now pictures have now emerged showing how open cast mining at the Sasan thermal power plant in Madhya Pradesh in India, funded through carbon credits, has forced some of the world’s poorest from their homes and left communities destroyed.

The UN suspended coal projects from the carbon offset scheme because the rules used to calculate emission reductions had resulted in the creation of "artificial carbon credits". It will now look at new methods of monitoring and verifying the effects of carbon credits.

Investors in the Clean Development Mechanism are frustrated by the repeated changes to the rules governing which projects qualify for carbon credits, and increasingly disillusioned with the low price of carbon determined through the mechanism.

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