A check on the monitoring and reporting of ‘emissions reductions’ claimed in association with a carbon offset project, prior to carbon credits being issued. CDM project developers are required to have monitoring reports checked by external auditors (Designated Operational Entities) as part of this process. The fact that these companies are paid by the developers themselves leads to a conflict of interest akin to the role of the ratings agencies who also acted as consultants to the financial sector in advance of the 2008 crisis.
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Tags: Carbon credits