This book assesses the structure of projects under the Clean
Development Mechanism (CDM) of the Kyoto Protocol. It explains why,
instead of the expected bilateral structure where a company from an
industrialized country invests in a project in a developing country
and receives the emission reduction credits in return, a unilateral
structure prevails whereby a company from a developing country
finances the emission reduction project itself and sells the
emission reduction credits. The book arrives at three fundamental,
interconnected, conclusions: CDM is logically a unilaterally driven
investment activity; CDM investment is an irrelevant compliance
instrument for companies from industrialised countries and that
this state of affairs is unlikely to change post 2012; and CDM
thrives in less equal and less ambitious post-2012 climate regimes.
Unique in its analysis of corporate views on investment in CDM
projects, this book will find widespread appeal amongst climate
policy analysts, company representatives involved in developing CDM
acquisition strategies and climate policymakers. It will also be of
interest to anyone involved in the study of climate change,
emissions reduction and trading and carbon markets.
General
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