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CDM: the pass of 2008, the coming of new 2009

Except Beijing Olympic Games and Obama, the first black president in USA, we suffer more pains like snow disaster, flood, earth quake, subprime lending crisis, worldwide economic crisis caused by financial crisis. The interest reduction, government funding, and economic depression have become the words appearing most frequently. The price of crude oil has slumped from nearly USD150 to less than USD50. The world development in 2008 could be regarded as heroic.
The development of CDM is heroic as well. In the first three quarters, the amount of registered projects and the volume of issued CERs soared and the price of CERs was comparatively high, which prospered the whole industry. However, at the same time, the amount of new projects declined and the scale of projects become small. DOE becomes the choke point of CDM development and are attacked by each part. The rumor about the closedown, the transfer, or the bankruptcy of some buyers and small-scaled consulting agencies continues. In the third quarter, as the price of CERs in the European secondary market declined continually (falling to less than EURO 15), the price guided by Chinese government fell for the first time, which turning down the ever-increasing CERs price in China. At the meantime, many buyers strengthen the technical examination in the initial period of developing project to reduce the risk.
The difficulties are always accompanied by the integration, the survival of fitness. EB keeps perfecting its regulations. The spring up or closedown of DOE, buyers, consulting agencies will become normal. The survivors, the real winners, will participate in the development of CDM. More powerful influence will be from China and USA, two GHG emission giants. Chinese government is striding steadily on dealing with climate change. Obama, the newly elected USA president, said USA will spare no efforts to scrabble for the dominant power of dealing with global climate change, to recapture the dominant power from European Union. More and more active attitudes from these two countries bring warm current to the global economic winter.
The heroic 2008 will pass, we are looking forward the coming of 2009, are looking forward to the stable development of Kyoto Protocol before 2012, and are looking forward to reaching more positive agreement on climate change in Copenhagen Conference, which is the all the CDM practitioners’ and all the human beings’ hope.

Cleanergy Investment Service (Beijing) Co.Ltd