The regulator of the United Nations emissions market should do more to speed up approvals for projects to cut greenhouse gas, the Carbon Markets and Investors Association said today.
The executive board of the UN’s Clean Development Mechanism said yesterday it reduced the backlog of pending requests for project registration and new credits to 30 days from about 90 days. While that’s an improvement, it is still double the target set at last year’s climate summit in Cancun, Mexico, Christiaan Vrolijk, a vice chairman at the group, said today in an e-mailed statement.
“The CDM executive board exceeded our expectations, and we hope they can continue with this pace of reform,” Vrolijk said. “We strongly encourage the executive board to carry on aggressively with its reforms.”
