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China facing growing backlog in carbon trade projects
According to analysts and companies involved in the carbon markets, China has become a crucial and lucrative part of the global carbon trading market, but the backlog of projects awaiting approval is growing, writes David Stanway.
"The National Development and Reform Commission said it approved 344 of the 601 projects in the second quarter of 2007. 'The whole market is ramping up, and the 2008-2012 window is approaching fast,' said Andrew Aldridge, vice-president of the China section of Climate Change Capital, a UK-based investment bank with the world's biggest carbon fund...
...'The really interesting part of the market is the technology sitting in Europe, particularly in fairly small - to medium-sized companies,' said Aldridge. 'Those companies do not normally have the resources to bring such technologies to China', he added. 'We have to use the CDM and create the right platform to bring that technology in.' "
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