Ethiopia can now issue carbon credits for old projects, bypassing global rules

Ethiopia has created a national system to issue carbon credits, allowing it to bypass international carbon market rules. This system lets old projects that no longer qualify for global carbon markets still generate revenue from selling carbon offsets.

For years, countries with older carbon reduction projects faced a problem: the global Clean Development Mechanism (CDM) was ending, leaving them with projects that couldn't issue new credits. This new system means Ethiopia can keep those projects alive and profitable, even without international approval. It also sets a precedent for other developing nations to create their own carbon crediting standards, potentially fragmenting the global carbon market.