A Kyoto windfall

Heavy polluters needing to reduce emissions under new EU legislation may find a solution in the developing world under Kyoto’s Clean Development Mechanism. Stella Farrington reports

Investing in hydropower in Guatemalia, geothermal in El Salvador or landfill gas projects in Bangladesh may not seem the obvious way for a European company to meet its new EU-allocated carbon emissions targets – but projects of this sort in the developing world are set to do just that, via emissions trading under the Kyoto Protocol’s Clean Development Mechanism (CDM).

The CDM opens up a potentially enormous market between Europe and the developing world, where heavy polluters in

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