The United Nations Framework Convention on Climate Change says
governments need to restore investors' faith in so-called carbon
markets, including the U.N.'s Clean Development Mechanism. The
CDM allows developing countries to earn credits from measures to
reduce greenhouse gas emissions. They can then sell the credits
to rich nations seeking to meet emissions reduction targets. But
prices for climate credits have dropped recently because of
uncertainty about countries' commitments to future emissions
reduction. The Bonn, Germany-based UNFCCC said Monday the CDM
has helped cut about 1 billion tons of greenhouse gas emissions
and resulted in huge investments to poor countries over the past
decade.