An interesting (and depressing) front-page story in the Guardian yesterday. The system established by the Kyoto process which allows rich countries to meet emissions targets by funding clean energy projects in developing nations is not just being abused, but abused on a massive scale. Apparently billions of pounds have been spent on dubious projects which do not do what they claim to.
That is why one of the House of Lords amendments to the UK Climate Change Bill is important: it stipulates that at least 70% of the UK's emissions cuts in any budgetary period should be generated domestically and not bought in from abroad, from similar schemes. The Government will of course be seeking to remove this amendment as the Bill passes through the House of Commons.
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