Although I do not totally agree with the concept of Carbon Trading (esp the Clean Development Mechanism (CDM) credits), but recent move by EU is simply outrageous.
The carbon trading had sponsored over 300 (1/3 of the registered projects around the world) reforestation programs and clean technology implementation in the country. But with this move all is going to stop.
A close friend of mine had plans to buy a large track of Desert Land in Rajasthan for afforestation. Lucky for him, this news came just in time.