China, the largest supplier of CERs in the world, has issued 47.07% of all CERs, according to the United Nations Framework Convention on Climate Change (UNFCCC). Analysts say China will make $8 billion by 2012 from the sale of all the CERs it issues.

"Following media reports that the Chinese government sabotaged the climate summit in Copenhagen, it will be interesting to see how political pressure is brought to bear upon China and what impact this will have on the worth of post-2012 CERs from