The United Nations climate panel on Friday decided not to approve 10 Chinese wind farms for carbon offsets under the Kyoto Protocol’s Clean Development Mechanism (CDM), according to a Reuters report.
Developers say the decision will negatively affect their ability to raise funding for additional projects, thereby threatening the emerging nations goals for renewable energy production.
However, the panel noted that the projects are profitable without carbon offsets, and that the Chinese government reduced its incentives for the projects as well.
Developers are calling for a more transparent process for determining CDM eligibility. Half of the wind projects currently under development in China might not receive carbon credits.
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