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Article: Is a rethink needed on the CDM?(United Nations Clean Development Mechanism)
- Article from:
- The Banker
- Article date:
- November 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jim Kharouf
In a perfect world of carbon finance, clean projects around the globe would be well thought out, measured flawlessly in a standardised fashion and passed through the UN approval process with certainty and without delay. Sadly, this bears little resemblance to the UN's Clean Development Mechanism (CDM).
What was created by the UN Kyoto Treaty has seen its ups and downs over the years, with project developers and carbon financiers appreciating the concept but getting increasingly frustrated with the delays and uncertainties that are now part of the process.
"The technical simplicity of the CDM is the beauty of it," says Henry ...