CDM reaches out

European firms are now aided in meeting their climate targets by being encouraged to invest in third world emissions reductions. But, as Oliver Holtaway discovers, not everyone is optimistic that the industry will participate

In last month's UN Climate Change Conference in Montreal, officers of the United Nations Framework Convention on Climate Change (UNFCCC) took measures to streamline the Clean Development Mechanism (CDM) market, which allows European firms to meet part of their reduction targets through investment in emissions reduction in the developing world.

"Montreal has made the CDM programme more accessible," says the head of the emissions desk at a major European utility. "We will see more buyers, and the

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