Home > Resources > News > Resources

Resource detail

Title: Developing world’s firm ‘no’ to market-based mechanism
Source:The Hindu
Date:12 November 2013

Poland, the hosts for the U.N. Climate talks this year, and the EU came in for some harsh opposition from many developing countries, including India, for promoting the idea that the talks must deliver a new carbon market mechanism even before countries make their emission reduction targets.Carbon markets help developed countries take credit for reduction of emissions carried out by poor countries by paying for the actions. The costs of paying the developing countries works out much lower for the rich nations in comparison with undertaking such actions in their highly developed economies. The proposal that the Warsaw talks conclude the basic framework for a new ‘market-based mechanism’, which had the backing of Poland, the host country holding the presidency and leading the talks, found a strong reaction from a host of developing countries including India. Polish presidency had been informed by the Like Minded Developing Countries, of which India and China are key members, that they would not permit such a mechanism to be put in place before commitments of the developed countries are put forth and are sufficiently high to show their seriousness.




Read more