GAO Skepticism Of Carbon Offset Markets

Law360, New York (January 13, 2009, 12:00 AM EST) -- The U.S. Government Accountability Office (“GAO”) recently released two reports skeptical of the credibility and effectiveness of both the U.S. voluntary carbon offset market and the compliance carbon offset market under the Kyoto Protocol’s Clean Development Mechanism (“CDM”).[1]

The GAO reports were commissioned by House Republicans on the Committee on Oversight and Government Reform and the Committee on Energy and Commerce in response to increasing press coverage critical of the U.S. voluntary carbon offset market and the CDM.

After reviewing both markets, the GAO reports conclude...
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