Typical U.N. fiasco.
The U.N. is funneling millions of dollars worth of tradable carbon credits to corrupt nations worldwide, including Iran, North Korea, Sudan, and Uzbekistan in an attempt to encourage clean energy projects in the developing world.
The U.N. Clean Development Mechanism (CDM) is defined in Article 12 of the Kyoto Protocol. Western European countries fund energy projects in the developing world in order to obtain Certified Emission Reduction credits (CERs), tradable credits that enable Europeans to count foreign emission reductions towards their own domestic emission reduction targets.
“The CDM started from a page and a half in the Kyoto Protocol,” said David Abbass, a spokesperson for the U.N. Framework Convention on Climate Change. “In the beginning they thought there would be maybe 600 projects, but now there are over 4,000 projects.”
Iran, Uzbekistan, Sudan, and North Korea are among the more than 70 countries currently hosting CDM projects.
Iran, with 16 separate CDM projects, brings in around 4.8 million CERs, worth about $26 million, every year, despite numerous U.N. sanctions against the Islamic Republic.
Uzbekistan, dominated for the last two decades by the autocratic Islam Karimov, hosts 20 different CDM projects, with a combined annual value of over 7.5 million CERs, or roughly $40 million.
Sudan, whose president Omar Hassan al-Bashir came to power via military coup over 20 years ago and is wanted by the International Criminal Court on charges of genocide, crimes against humanity, and war crimes in Darfur, is on the receiving end of two different CDM projects, with a combined annual value of over 180,000 CERs, or almost $1 million.
North Korea is hosting seven hydroelectric dams, which may generate over $1 million in CERs annually.