The UN body in charge of managing carbon trading has suspended approvals for dozens of Chinese wind farms amid questions over China's use of industrial policy to obtain money under the scheme.
China has been by far the biggest beneficiary of the so-called Clean Development Mechanism, a carbon trading system designed to direct funds from wealthy countries to developing nations to cut greenhouse gases.
China has earned 153 million carbon credits, worth more than a billion dollars and making up almost half of the total issued under the UN-run programme in the last five years, according to a Financial Times analysis. The credits are currently trading at about $10 to $15 each.
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