The Spectacle Blog

Greens, Reds and Giving the NoKos (Carbon) Credit

By on 3.7.11 | 7:21AM

The greens' fight against simply rebranding foreign aid as 'climate aid', in lieu of adding the new stream of billions as originally planned, has a new twist. Per Politico, Kyoto seems to offer despots a nice backdoor to skirt sanctions:

CARBON CREDITS FOR NORTH KOREA? Kim Jong-il's government is looking to sell UN-backed carbon offsets from hydropower projects as a way to raise hard currency in the face of sanctions over its nuclear weapons program, the Guardian reports.

Meanwhile, Open Europe, citing about a dozen sources in today's update, notes the greens' red counterparts are calling for the new revenues to be generated. "[T]the Party of European Socialists, meeting in Athens on Friday, called for a financial transactions tax and a carbon tax."

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