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Follow on Google News | FinSoul: Controversy over 10 Chinese wind projects.The UN’s CDM Executive Board’s decision to exclude 10 wind projects causes uncertainty in the industry.
By: FinSoul The decision was apparently based on reports that the CDM has generated “perverse incentives” which have seen the Chinese government scaling back its own financial support for wind farm development. FinSoul understands that the move is likely to be welcomed by some green groups who have accused the CDM of simply providing finance to projects in emerging markets that would have gone ahead regardless of the aid. The contention comes after the recent publication of a major new report from the IETA pushing for urgent reforms to the CDM to be agreed on as part of any Copenhagen deal this month. The report, entitled “State of the CDM 2009”, warns that the $6.5bn a year CDM market could be “buckling under the weight of its own success" and that urgent changes were needed to ensure investors are not driven away, FinSoul research revealed. # # # FinSoul structures and guides greenhouse gas emission reduction projects from beginning to end, working with both project developers and buyers of emission reduction credits. End
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