UN suspended project verifier
The UN body overseeing clean development mechanism, or CDM, has suspended one of its verifiers for CDM projects for lax audit and veri fication. CDM allows emission-red uction projects in developing countries to earn carbon credits. On December 2, the CDM Executive Board said it had suspended Norwegian company Det Norske Veritas, after an investigation in November revealed flaws in its auditing. The company is a major player in the US $13 billion CDM market and has verified about half the projects registered with the UN. A verifier has to prove that a project seeking funding through CDM is not viable without that funding. But this has often proved difficult to ascertain. Environmental groups have for long criticized that the scheme provides millions of dollars to projects that either deliver minimal emission reductions or would have gone ahead regardless.
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
.png)
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.