Video: Scrap the carbon credits scheme!
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 placed on EU ministers to follow suit in the future.
The UN’s Clean Development Mechanism (CDM) was designed to encourage global financial markets to invest in low carbon projects and has created a trading market worth $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.
Submitted by Lloyd Abbott, working with the World Development Movement