ABSTRACT
This chapter evaluates the impact of Clean Development Mechanism (CDM) on China's climate change mitigation and sustainable development. A variety of CDM projects have been established in which many of them have contributed greatly to China's sustainable development. The chapter argues that Chinese CDM projects do not contribute to China's overall emission reduction. CDM introduces the concepts of climate change mitigation and carbon market, which has raised awareness among the Chinese government and public of the threats and consequences of climate change, and encouraged the government to actively seek ways to deal with such issues. The Chinese government has given out positive political and economic signals on tackling climate change. The possibility of CDM as a domestic market mechanism in China after 2012 is explored from the initial utilization of the China Certified Emission Reduction (CCER) in the China carbon trade pilot programme to the possibility of establishing a CDM-like co-mechanism for a national carbon market.
