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UN CO2 Board Like 'The Orchestra on the Titanic,' Member Says
2010-10-13 14:48:22.587 GMT
By Mathew Carr
Oct. 13 (Bloomberg) -- The United Nations board regulating
the world's second biggest greenhouse gas market will be like
"the orchestra on the Titanic" unless it addresses plunging
investments and surging requests for credits, a member said.
"We are a little like the orchestra on the Titanic," said
Pedro Martins Barata, a board member for the UN Clean
Development Mechanism's executive board.
In the report it will present at the global UN climate
talks in December in Cancun, Mexico, the board needs to
highlight a probable "collapse" in investment in emission-
reduction projects stemming from a lack of targets after 2012,
Martins Barata said. There's also likely to be "an explosion of
issuance requests," he said.
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To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
