North Korea to Sell Carbon Credits
North Korea is using a German intermediary to approach the United Nations in hopes of selling carbon credits from its hydro-power projects to more wealthy nations for hard currency.
Some worry that North Korea’s move to get cash in exchange for carbon emissions is driven by motives unacceptable to the international community, i.e. its nuclear development program: “North Korea hopes to earn much-needed hard currency by selling UN-backed carbon offsets from a series of hydro-power projects, as the country faces sanctions over its nuclear weapons program. If approved and registered by the U.N., these would be the first projects for North Korea under a scheme called the Clean Development Mechanism (C.D.M.). This allows developing countries to earn tradeable carbon credits for emissions reductions from clean-energy projects.”
