UN panel approves 32 China wind farms

A United Nations climate panel has approved 32 Chinese wind farms for carbon financing under the Kyoto Protocol, but blocked another six after rejecting eight similar projects in December. The approved wind farms will cut greenhouse gas emissions by some 11.3 million metric tones by the end of 2012, the year the current Kyoto pact expires, according to UN data. Under Kyoto's Clean Development Mechanism (CDM), companies can invest in clean energy projects in emerging economies, and in return receive offset credits, only if they can show the projects would not have gone ahead without the prospect of revenues from selling those credits. After noting a drop in financial support from Beijing in the form of tariffs, the CDM's executive board rejected 10 wind farms in December, saying they were profitable and capable of cutting emissions without receiving the offsets, called Certified Emissions Reductions (CERs). The board has now said two of those were rejected by mistake, bringing the total rejected in December to eight. At its latest meeting, the board fully registered 13 Chinese wind farms while conditionally approving another 19 subject to minor corrections in their applications.