India woos foreign investment with CDM reforms
The Indian government is proposing a set of reforms to Kyoto Protocol standards for Clean Development Mechanism (CDM) projects, which involve scrapping further charges to developers, to push through more CDMs and keep investment flows alive, the Indian government climate change representative and government adviser Prodipto Ghosh announced Tuesday.
Ghosh, who is also a distinguished fellow at the Energy and Resources Institute, unveiled a list of proposals that includes the "elimination of financial additionality". He believes this is necessary as the United Nations Framework Convention on Climate Change (UNFCCC) CDM executive board "cannot second-guess the risk reward profile of investors", he said.
The CDM is a carbon market mechanism devised under the Kyoto Protocol, whereby developed countries are encouraged to invest in carbon
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