Thursday, 10 June 2010

Dear all,

An article titled "Hot Air from a Crumbling Kyoto" by Dr Promode Kant has been published on our website

If you thought the first beneficiaries of the Kyoto largesse would be the sinking island countries, some even holding cabinet meetings in lagoon bottoms in a desperate bid to melt the hearts of the world’s rich, you could not be farther off the truth. The first real climate money flow, a billion Euros, have gone not to them, or to the deprived billions of other Least Developed Countries facing the brunt of the warming earth, but to some of EU’s own. Over the past two years Japan has purchased 97.6 million carbon credits (Assigned Amount Units, to be precise) from Poland, Latvia, Estonia, Czech Republic, Romania and Slovenia besides Ukraine to meet its Kyoto target of emission reduction at an average price of Euro 10 per unit. These are not carbon credits earned for reducing emissions after following the rigorous Kyoto process of CDM or Joint Implementation but just so much ‘hot air’..........

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