07 February 2007 10:22 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s government and the United Nations Development Programme (UNDP) will establish a carbon-credit trading system with the aim of alleviating poverty and developing China’s renewable energy sector, the UNDP said on Tuesday.
The project, will receive $1.7m (€1.3m) of funding from global steel giant Arcelor Mittal.
It will see a carbon-credit exchange created in ?xml:namespace>
However, efforts to ensure that the sale of carbon credits leads to benefits for the poor are limited, Malik said, adding that most do not lead to technology transfer or the fostering of clean energy development in China.
With the trading network set up, international investors and local partners would have a platform to discuss “green” projects to be located in
Recent findings by the UN Inter-Governmental Panel on Climate Change highlighted that rising temperatures and water shortages in
The study cited that the annual average temperature in
The project is a joint effort by
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