The Financing Model Innovation in Clean Development Mechanism (CDM) Project

摘要

In order to reduce the emission of greenhouse gases efficiently, and solve the problems of capital and technique during the implementation of projects in developing countries, clean development mechanism (CDM), through which developed countries exchange the right of emission of greenhouse gas with capital and technique, is an efficient and feasible way. This paper analyzes the necessity and feasibility of CDM project financing, points out that because of the difference of the cost of emission reduction between developed country and developing country make the corporation possible. Compares seven basic financial models of CDM project, and points out that completion guarantee, CERs purchase agreement, long-term sale agreement, commercial insurance and other measures play an important role in the constitution of credit guarantee system of CDM project.