North Korea said it plans to sell carbon offsets from a series of hydropower projects if it can find anyone stupid enough to buy them. Apparently, the United Nations, which is responsible for approving carbon offsets, has expressed interest in approving North Korea’s bid for cash.
North Korea has reportedly engaged the Hanns Seidel Foundation, a humanitarian organization based in Germany, to shepherd three 7- to 8-megawatt hydropower projects through the United Nations approval process for carbon credits. If the United Nations approves the sale of offsets, they would be the first North Korean projects eligible under the Clean Development Mechanism, which allows receive carbon credits for emissions reductions resulting from low-carbon energy development.
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