India woos foreign investment with CDM reforms

Ghosh, who is also a distinguished fellow at the Energy and Resources Institute, unveiled a list of proposals that includes the "elimination of financial additionality". He believes this is necessary as the United Nations Framework Convention on Climate Change (UNFCCC) CDM executive board "cannot second-guess the risk reward profile of investors", he said.

The CDM is a carbon market mechanism devised under the Kyoto Protocol, whereby developed countries are encouraged to invest in carbon