Chinese CDM project approval drops
The Chinese government's approval rate for Clean Development Mechanism (CDM) projects has dropped by over a third since December 2009, amid continued fears that Chinese CDM-generated Certified Emission Reductions (CERs) credits will not be allowed to be imported in Phase III of the European Union Emission Trading System (EU ETS)
The latest data from the National Development and Reform Commission in China shows the Chinese government approved only 32 CDM projects during the period from February 10 to March 10, 2010 – these projects are expected to generate around 3.01 million CERs. This represents a 33.3% drop from the projects approved from November 13, 2009 to December 24, 2009 and a 46.2% drop in the potential number of
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