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At the Twelfth China East-West Cooperation and Investment and Trade Fair held in Xi'an from April 6th to 9th, a reporter attended the CDM (Clean Development Mechanism) Global Environmental Protection and China's Clean Development Mechanism Process Seminar. The event highlighted how the energy sector has become the dominant focus in CDM project development. As of now, out of the 1,087 CDM projects registered globally, 20% are located in China, making it one of the largest markets for carbon credits.
According to the Kyoto Protocol under the United Nations Framework Convention on Climate Change, the CDM targets six key greenhouse gases: carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons, and sulfur hexafluoride. These initiatives help countries meet international environmental standards by promoting energy efficiency and reducing emissions. This global effort plays a crucial role in mitigating climate change.
Li Yongjun, a member of the CDM Global Environmental Protection Fund, noted that as of February 2008, 650 out of the 1,087 registered CDM projects were in the energy sector, accounting for 59.8%. This highlights the energy industry’s central role in CDM activities. Renewable energy has emerged as a major trend within this framework, offering significant growth potential. Developing countries with advanced industrial sectors also show strong potential in the CDM market.
Globally, India leads in the number of CDM projects registered, with 389 projects, followed by Brazil with 214 and China with 115. These figures reflect the growing interest and participation of developing nations in the carbon market.
In recent years, China has significantly accelerated its renewable energy development. In September 2007, the Chinese government released the "Mid- to Long-Term Development Plan for Renewable Energy," setting clear targets: to increase renewable energy consumption to 10% of total energy use by 2010 and 15% by 2020.
The National Development and Reform Commission has approved over 1,000 CDM projects, with 214 successfully registered at the United Nations. More companies are becoming aware of the benefits of CDM projects, and international carbon finance firms have started to enter the Chinese market. Domestic chemical companies, such as those involved in fluorine, chlor-alkali, and coal chemicals, have become direct beneficiaries of these initiatives.