Raubenheimer, Stefan; Michaelowa, Axel; Jahn, Michael; … - HWWA Institut für Wirtschaftsforschung - 2004
The Clean Development Mechanism (CDM) was originally seen as an instrument with a bilateral character where an entity from an industrialised country invests in a project in a developing country (DC). Also, multilateral funds were envisaged that would bundle investments to spread project risks....
