14 DAY TRIAL // The clean development mechanism (CDM) is an instrument created by the United Nations to serve as a carbon trading system for a number of countries. Today, a top climate executive in China denied allegations made about the country by several other states, which said that it was more or less getting a free ride within the boundaries of the instrument. However, Gao Guangsheng, who is the director general of the National Development and Reform Commission climate change office, said that the nation paid for the policy just as proportionally as any other country.
“I don't believe the theory that China has benefited the most from the CDM. I think the widespread development of CDM projects in China is an important aspect of China's contribution,” he stated during a conference on Friday, in the European Union, Reuters informs. The Union has been recently launching calls to UN member states to help it change the CDM policy, and to implement new measures on carbon trading. “China has paid just as much or more in terms of economic costs for the development of this kind of (CDM) project,” the Chinese official added at the meeting.
Guangsheng also rightfully drew attention to the fact that China was the number one supplier of certified emission reduction (CER) policies, which are the basic commodity of CDM policies. More than 60 percent of all permits in the world originated from the nation, while the Chinese government paid for most of the green projects in the country by itself. This happened although some of the massive constructions that took place in China over the last couple of years were in their right to get funds from CDM budgets.
“Sixty percent [of credits] are from China, but how does China develop so many? The situation is complicated but the most important factor is that China – from a government and policy standpoint – has greatly supported the CDM,” he pinpointed, adding that the Western World should stop making baseless accusations as regarding the country. In this instance, observers note, it may be that the Asian nation is right, and that the developing world is, indeed, under-appreciative of its efforts.