CARBON CREDITS FOR SUB-SAHARAN AFRICA - lumes

evealed importance of such aspects of stronger ecological modernization discourse, asstakeholder participation and solid ecological focus, I have doubts that this signifiesmore equitable terms of benefits distribution and institutional change needed. It seemsto be unavoidable conclusion that with respect to understanding and translatingsustainability into practice, VCM is dominated by the weak ecological modernizationapproach.Finally, voluntary market for GHG emission reductions is essentially anemerging market, but not a mechanism for financing sustainable development. Thus,only countries that have capacity to benefit from it will be able to exploit thisopportunity. This also means that those that lack financial capital and institutionalcapacity might be left aside.41