| The clean development mechanism (CDM), as the only emission reductionmechanism within "Kyoto three mechanisms" also participated by the developingcountries, has great significance for the economic and social sustainable developmentof the developing countries. Being one of big developing countries in greenhouse gasemission, China undertakes dual responsibilities of reducing greenhouse gas emissionfor the international community and developing national economy for itself, while theclean development mechanism undoubtedly is one of approaches for China.As one kind of carbon trading, the international law source for the cleandevelopment mechanism includes "United Nations Framework Convention on ClimateChange" which first brings the greenhouse gas emission reduction into the field ofinternational law, while the "Kyoto Protocol" further provides the direct reference forthe clean development mechanism. Through the continuous enrichment anddevelopment of these international conventions and documents, a series of detailedimplementation rules like operating rules for the clean development mechanism areeventually formed which provides a more specific legal basis for the development ofthe clean development mechanism. The theory of property rights and the theory ofemission rights trading demonstrate the sources and the basis of the cleandevelopment mechanism from the angle of economics and law separately. And theexternalities of the property right involve the environmental resource property rightswhich just are the direct theoretical source of the clean development mechanism.Meanwhile, the environmental cooperation within the international environmental lawand the theory of state environmental sovereignty also provide a theoretical basis forthe clean development mechanism in the side of environmental law. The connotationof clean development mechanism includes the contents of the law subject andprocedures, which comprise the detailed operating rules for the implementation of thismechanism. However, China still has problems in the operation of the cleandevelopment mechanism. The problems mainly include imperfects of the relevantlaws and regulations and no real carbon trading market being formed. Therefore, forthe sake of striving to integrate into the international carbon emission trading marketearly, relevant experience shall be learned from the abroad and the existing"Regulations of Clean Development Mechanism Projects" shall be revised and developed, while a unified clean development mechanism project market andvoluntary emission reduction trading system also shall be established gradually andthe supervision and management system shall be improved. |
PDF Full Text Request