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Under the clean development mechanism (CDM) of the Kyoto Protocol, industrialised nations are allowed to meet part of their carbon emission reduction commitments by carrying out reforestation and clean energy projects in developing countries.

In this article, Suvira Srivastav reports on the position of the optimists and critics of the 'carbon market'. The former believe that developing countries such as India should be racing to cash in on this potentially lucrative new initiative.

But, at the same time, some commentators are asking whether making a business out of carbon dioxide will really make the world a better place.

Link to TerraGreen feature article