UK climate body warns government on carbon offsets

Britain should not rely on using carbon offset credits to reduce its greenhouse gas emissions by 34 percent by 2020, Britain's chief climate change adviser said on Monday.

The Committee on Climate Change, which advises the British government on how it can meet its goals to cut planet-warming emissions, said the government should place a limit on offset credits which could count toward meeting its reduction target.

It also said that British households could face a hike of 25 percent in electricity prices by 2022.Under the U.N.'s clean development mechanism, companies from rich nations can invest in clean energy projects in developing countries like China or India, and in return receive offset credits which may be used toward emissions targets or sold for profit.

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Source: Reuters