The U.N. mechanism for supporting carbon emissions projects in developing countries – the Clean Development Mechanism (CDM) – is in crisis as a result of a dramatic slump in the prices being paid for carbon credits.
Climate change is projected by many scientists to bring with it a range of calamities – from widespread floods, to prolonged heatwaves and slowly but relentlessly rising seas – taking the heaviest toll on those already most vulnerable.
If ever there was a need to prove that we are faced with a total lack of global governance, the U.N. Climate Summit, extraordinarily called by U.N. Secretary-General Ban Ki-moon on Sep. 23, makes a very good case.
Facing potential extinction under rising sea levels, many small island nations are embracing renewable energy and trying to green their economies. Although the least responsible for carbon emissions, small countries like Barbados are on the front lines of climate impacts.