DNV exits CDM validation as market implodes

The loss of pioneer DNV GL from international carbon offset verification activity suggests the troubled market is now entering its end-game

The largest remaining verifier of developing country greenhouse gas emissions reduction projects under the UN Clean Development Mechanism (CDM) has announced it is pulling out of the ailing market.

On 13 February, Oslo-based DNV GL said it is to cease validation and verification services for CDM projects and other international climate change mitigation projects. It blamed “the current downturn in international carbon markets, without signs of a recovery in the foreseeable future”.

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