clipped from: news.findlaw.com But in the end the new Xiaoxi dam may do nothing to lower global-warming emissions as advertised. And many of the 7,500 people displaced by the project still seethe over losing their homes and farmland.
Similar stories are repeated across China and elsewhere around the world, as hundreds of hydro projects line up for carbon credits, at a potential cost of billions to Europeans, Japanese and soon perhaps Americans, in a trading system a new U.S. government review concludes has "uncertain effects" on greenhouse-gas emissions.
"The CDM" - the 4-year-old, U.N.-managed Clean Development Mechanism - "is an excessive subsidy that represents a massive waste of developed world resources," says Stanford University's Michael Wara.