Credits from projects aimed at reducing greenhouse gas emissions under a UN program will increase by about a fifth this year, a member of the oversight board said, less than analysts have forecast.
Officials are battling to keep the UN’s climate program on track after U.S. President Barack Obama and Chinese Premier Hu Jintao failed to broker a global agreement on emissions curbs in Copenhagen in December. The impasse eased pressure on power companies and manufacturers to reduce their own emissions, leading to a fall in the market for carbon offsets.
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