The authors, Alain Cormier and Valentin Bellassen, analysed that

• only 31% of the 1.8 billion of expected Certified Emissions Reductions (CER) by April 1st, 2011, were issued in a timely manner,
• 30% will never be issued and the remaining 39% were not issued on time,
• 69% of failed projects drop out early in the CDM process (at the validation stage).,
• Several factors explain this, however, technology seems to be the key factor for all risks: some technologies are more successful than others.

You can download this working paper as PDF at cdcclimat.com