China on Friday launched a state-owned Clean Development
Mechanism (CDM) fund to finance the country's efforts to address
climate change.
The China CDM Fund, managed by the Ministry of Finance, will
generate money from the current CDM projects, which help China
improve energy efficiency and protect the environment by using
clean energy for power generation, and raise money from various
sources.
Established under the Kyoto Protocol, CDM is a market-based
mechanism that allows developed countries to fulfill their
greenhouse gas emission reduction obligations by investing in clean
energy projects in developing countries such as China.
(Xinhua News Agency November 9, 2007)
