UN Suspends China Wind Farms Funding
Professor Michael Wara, an expert on environmental law and policy, is quoted in the Financial Times on carbon trading systems:
The United Nations body in charge of managing carbon trading has suspended approvals for dozens of Chinese wind farms amid questions over its use of industrial policy to obtain money under the scheme.
China has been by far the biggest beneficiary of the Clean Development Mechanism, a carbon trading system designed to direct funds from wealthy countries to developing nations to cut greenhouse gases.
Michael Wara, of Stanford University, said there were considerable problems in China with the CDM rules. With the emphasis that Beijing is now placing on wind power and smaller hydro-electric projects, the government would have supported at least some of the projects receiving money under the CDM scheme anyway.
"It is hard to believe that there is additionality in many of the energy projects in China right now," he said.