One of the most spectacular aspects of the climate agenda has been the emergence of carbon markets. This paper demonstrates that the Clean Development Mechanism (CDM) provides an opportunity for developing countries, including South Asian countries, to participate in carbon markets.
The document underlines that certified emissions reductions (CER) from CDM projects in developing countries can be used to meet reduction commitments in developed countries. However, excluding India, South Asian countries have been shy to invest in promoting CDM, and CDM projects in the region have failed to achieve scale because each project is individually too small and the projects are too scattered.
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