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U.N. cuts pre-2012 Kyoto offset estimate to new low

Wed, 08/04/2010 - 6:31am
Reuters

LONDON (Reuters) - A United Nations agency cut its forecast on Wednesday for pre-2012 Kyoto Protocol carbon offsets by 3 percent to its lowest level yet, estimating that only 981 million tonnes will come to market by the end of 2012.

The previous low had been 992 million, forecast by the UNEP Risoe Center in May.

Under Kyoto, efforts to cut greenhouse gases can be outsourced to emerging countries such as China and India through investment in clean energy projects registered under the UN's Clean Development Mechanism (CDM) scheme.

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