Setting one global standard for monitoring should give investors certainty beyond 2012, says Joint Implementation Supervisory Committee
The UN body tasked with expanding carbon emission reduction projects around the world has agreed to streamline the process for approving such projects, potentially providing a major boost to the global carbon market.
Under the Joint Implementation (JI) process established by the Kyoto Treaty, countries signed up to the Protocol can participate in emission reduction schemes in other countries and put the savings towards their own carbon reduction targets.
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