Evidence of the clean development mechanism impact on the Chinese electric power system's low-carbon transition

The extension of the Kyoto Protocol till 2020 has left uncertainty dominating the future of climate change negotiations. Meanwhile on-going debate on the variety of measures introduced by the Protocol demonstrate that there is no consensus among academics and policy makers on the efficacy of those measures. By focusing on a specific but extensive case-study, which encompasses the whole contribution of the clean development mechanism (CDM) to the Chinese electricity production sector, this paper aims to reflect upon the effectiveness of that mechanism during its originally planned lifetime (which was to be the end of 2012). The paper contributes to the international debate by offering a new evidence-based perspective on the efficacy of the CDM in a strategic sector of the most relevant non-Annex I country. The obtained empirical results can serve as evaluation instruments for both academics and policy makers involved in the elaboration of a new Protocol and its related mechanisms, while at the same time offering a stimulus for further analyses sharing similar objectives. The results reveal a new perspective on the Chinese electricity system's low-carbon transition, while prompting debate over the original efficacy of the CDM.