Global Offset Experts: UN panel announces that it has cut carbon offset backlog.

Jan. 10, 2011 - PRLog -- The United Nation’s climate agency which oversees a market in carbon offsets under the Kyoto Protocol has announced that it has managed to cut a backlog in project approvals, a move  which is hoped will ease long-standing private sector complaints about delays, Global Offset Experts was informed.

According to the panel, the backlog has been reduced to less than 30 days, from an earlier high of around 90 days.

Under the clean development mechanism (CDM), developed nations exceeding their Kyoto Protocol greenhouse gas emissions targets are able to purchase carbon offsets called certified emissions reductions (CERs) from projects that reduce carbon emissions in the developing world.

"We'll continue to look for efficiencies and improvements to keep the mechanism moving in a positive direction," the chairman of the CDM panel, Clifford Mahlung told Global Offset Experts recently.

So far, 2, 718 CDM schemes have been registered in 70 countries and around 498 million CER’s, each representing one metric ton of CO2 emissions cancelled, have been issued to 847 projects according to a statement issued by the climate agency and available to Global Offset Experts.

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