An obscure U.N. board that oversees a $2.7 billion market intended to
cut heat-trapping gases has agreed to take steps that could lead to it
eventually reining in what European and U.S. environmentalists are
calling a huge scam.
But environmentalists say rich nations could be wasting billions of
dollars on what some are calling "perverse financial incentives,"
because some of the largest projects funded by the U.N.-managed CDM are
a golden goose for chemical makers without making meaningful cuts in
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