On Legal Issues Of Implementing The CDM In Our Country

The clean development mechanism (CDM) is one of the three flexible mechanisms established in the Kyoto Protocol, which is also the most important flexible mechanism to response the global climate change. This mechanism achieves the dual goals by cooperating between the developed countries and the developing countries and importing fund and technology to the developing countries from the developed countries: to help the developed countries to achieve the emission reduction commitment in a cost-effective manner;to help the developing countries to achieve the sustainable development and take measures to mitigate the climate change.Besides the function of controlling the greenhouse gases, CDM brings huge business opportunities. It has become the focus of Governments and enterprises. After the COP8, the operating rules of the CDM have been established. All countries have improved the laws and regulations related to the mechanism to be synchronous with international expectations, in order to start this flexible mechanism as soon as possible, which helps them to restrain the pressure of domestic greenhouse gases reductions on the one hand, on the other, win the huge market opportunities.Enterprises emitting greenhouse gases of our country may gain a lot from the CDM, which can turn environmental obligation into a financing or trade product. The CDM will not only help our country to improve the climate, but also provide an unprecedented opportunity to attract foreign investment and accelerate the economy development. For a better utilization of CDM, enterprises should have a deep understanding of CDM in terms of law. Also, we should improve thelegal environment of the operation of CDM in order to attract more CDM projects to develop the economy of our country. This thesis includes four parts:Part I focuses on the necessity of the studies on the legal issues of the CDM.Part II analyzes concretely the operating rules of the CDM, including the qualification for the participants of a CDM project, the financing procedures, legal structure, and sellers' and buyers' rights and obligations under an ERPA.Part III analyses objectively the legal defects of implementing the CDM in our country, including "the method of managing the CDM project", the legal system to response the pressure of emission reduction of the greenhouse gases and the legal environment for attracting the CDM projects are uncompleted.Part IV puts forward suggestions to overcoming the legal defects of implementing the CDM in our country, including improving "the management approach of the project operation of the CDM", perfecting the legal system of sustainable development and improving the legal environment attracting the CDM projects.