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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
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  "authorName": "Grantham Research Institute",
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      "text": "Figure 7b shows that 995 times out of a 1,000, a lottery would have subsidized less total BLIMP-capacity than the CDM.",
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      "text": "Density distribution for Number of subsidized BLIMPs",
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      "text": "p-value: 0.9972",
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      "text": "Figure 6 shows that out of the 53 million CERs estimated to have been approved for Indian wind farms, just over half, almost 28 million, went to BLIMPs. When sold as carbon offsets, these carbon credits have allowed regulated polluters around the world to emit an additional 28 million tonnes of carbon dioxide.",
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      "text": "Ultimately, we care about the number of BLIMP carbon offsets, not the number or capacity of the BLIMPs themselves. This requires an extra step. Unlike the number or capacity of projects, we do not observe the number of CERs that would have been given to non-CDM wind farms.",
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      "text": "Not all BLIMPs represent mistakes of equal magnitude. It is possible that the CDM's registration process gives rise to a relatively large number of smaller BLIMPs, whereas the imagined lottery might be consistently distributing carbon credits to a smaller number of much larger wind farms.",
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      "text": "Figure 6 shows that the BLIMPs registered under the CDM have a collective capacity of 4.35GW, accounting for about a quarter of India's total installed wind capacity in 2013. Meanwhile, Figure 7b shows that 995 times out of a 1,000, a lottery would have subsidized less total BLIMP-capacity than the CDM.",
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      "text": "We are referring here to the expected number of CERs at registration. This number provides us with a measure of the quality of the CDM's allocation process itself.",
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      "text": "Figure 7: Comparing the Number, Capacity, and Quantity of CERs to a Lottery",
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