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But the three countries now say nuclear power should be included in the CDM after all.
BBC: Climate talks 'going backwards'
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Enter Globalfoundries, the new kid on the block, which takes a more consultative approach called Collaborative Device Manufacturing (CDM).
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Kyoto's CDM mechanism was not designed for such flows, and may well need reform even if other channels open up.
ECONOMIST: The Copenhagen climate-change conference
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But for the CDM to provide that link, countries will have to reduce their greenhouse-gas emission targets drastically, thus providing a boost to demand.
ECONOMIST: Carbon markets
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CDM's Executive Board is also slowing things up.
ECONOMIST: Climate change
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CDM's imaging system, it passes first through conventional optical elements, and then through a lens moulded into a shape of a cubic-like function (ie, with a surface which, instead of being spherical, is relatively flat in the centre but has scalloped edges).
ECONOMIST: MONITOR