The evolution of the UN’s Clean Development Mechanism is likely to pave the way for more trading products, but it would be best to avoid fragmentation in the market, participants have told Futures and Options Intelligence.The CDM is a scheme designed to encourage investment in low carbon technologies in developing countries. Western companies that sponsor projects in poor countries which are deemed low carbon can earn credits, known as Certified Emissions Reductions. These are supposed to measure the tonnes of CO2 emissions that would have been made if the project had been carried out without the low carbon...