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Edited by Rolf Wüstenhagen and Robert Wuebker
Chapter 17: International Entrepreneurship and Technology Transfer: The CDM Situation in China
João Aleluia and João Leitão 1 INTRODUCTION The Kyoto Protocol is one of the most important milestones achieved so far by the international community in the effort to curb climate change. Coming into effect in February 2005 after Russia’s ratification, this Protocol determines that a set of industrialized countries reduces their combined emissions of greenhouse gases by an average of 5.2 per cent below 1990 levels until 2012. The Protocol does not specify how these reductions should be achieved, but it proposes three flexible market-based mechanisms to help industrialized countries meet their commitments: emissions trading scheme (ETS); joint implementation (JI); and clean development mechanism (CDM). The CDM allows countries that have accepted emission reduction targets to develop or finance projects that reduce emissions in developing countries in exchange for reduction credits called certified emission reductions (CERs) (Dechezleprêtre et al., 2008). By providing financial and technological assistance to these countries, the CDM not only contributes to the mitigation of climate change effects and sustainable development needs, but also enables developed countries to achieve lower compliance costs on their greenhouse gas reduction commitments (Castro and Michaelowa, 2008). Having the CDM as the core topic of our analysis, this chapter has one main goal, which is to frame the CDM in the state of the art of the literature on international entrepreneurship and technology transfer. The contribution of this chapter to the literature on energy entrepreneurship is twofold: (i) to present foreign direct investment (FDI) as a potential mechanism...
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