Filtered by category: Climate Change News, tag: carbon credits × Clear
Most “zombie credits” locked out of new UN carbon market after China and India snub
Matched: climate
China and India have declined to authorize the transfer of old carbon credits to the new UN carbon market, effectively blocking most so-called "zombie credits" — low-quality offsets from outdated projects — from entering the system. The move eases concerns that the new market would be flooded with environmentally dubious credits, and is seen as a positive step for the integrity of the emerging mechanism.