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China, India among others are ineligible for CDM funding

By on 2012-01-02 17:38:57 in Conventional Fossil Fuels, Energy Finance & Investments,

China, India, Ghana, Qatar, United Arab Emirates and South Africa may be eliminated as eligible countries for Clean Mechanism Development (CDM) funding for Carbon Capture and Sequestration (CSS) projects, in negotiations at the Durban climate talks although these are among the very countries that need it most. These countries are now considered too developed to qualify as Least Developed Countries (LDCs) and CDM funds are going to only be allowed for projects in the most undeveloped countries.
The EU, which is currently the largest funder of CDM projects that offset emissions at home, has said that beginning in 2013, they will only allow CDM-funded projects in LDCs. - read more

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