【正文】
that there were increasing numbers of development oriented clean development mechanism (CDM) projects in the three countries. Also, there are a few climate change mitigation projects for carbon offsetting in Indonesia, some lowcarbon munity development projects without carbon credits funded by contributions and donations in the Philippines and Indonesia, and no such projects funded by notforprofit finance. The study also suggests several barriers to the utilisation of international carbon finance, in particular for carbon finance, especially unfavourable conditions for investors such as high transaction costs and limited knowledge and experiences of local actors. This study also examines the roles played by local governments, including as project proponents and facilitators, as well as the means that local governments use to facilitate projects, such as support for project proponents, enhancing munication among local stakeholders, and providing necessary local ordinances and regulations. Based on the findings and analyses of the country studies, this study suggests several ways for stakeholders to further promote carbon finance for lowcarbon munity development projects in East Asian developing countries. For project developers interested in development, including either local governments or private panies, it is desirable to refocus existing development programmes to incorporate additional GHG emissions reduction effects in order to utilise carbon finance, and to select technologies that utilise locally available technology to avoid higher costs that discourage investors, if international technology transfer hinders project formulation. Project developers should also make more efforts to outreach the concepts of voluntary carbon management and offsetting. Local governments should select, revise and implement appropriate developmental programmes that have GHG emissions reduction effects, utilising carbon finance schemes. Local governments are also encouraged to develop and extend the programmatic approach which aggregates many smallscale projects in a certain geographical area so that lowcarbon projects can contribute to existing developmental programmes as well as generate revenues from carbon credit production and sales. National governments could support the development of programmatic framework. Local governments would also be able to promote twostep loan to finance lowcarbon munity development projects by means of effective coordination with national governments and international / local financial institutions. Local governments that are already mitted to or interested in developing energy and resource efficient economies could learn from the experiences and knowledge of other local governments using formal and informal works of individuals and organisations. National governments and international organisations could support development of lowcarbon munity development projects by establishing a fund that operates a petitive grant programme, whose grants can be used for underlying finance to projects that show high prospects in terms of contribution to munity developmental benefits, and by assisting in knowledge dissemination and capacity development activities for the staff lf local governments and financial institutions. For China, the only low carbon development projects found by the study were CDM projects with carbon credits. No voluntary carbon offsetting projects were found in the areas of energy efficiency, renewable energy, and waste and wastewater management. Also, the study did not find any lowcarbon development projects funded through notforprofit or nonprofit private finance, though it is possible that some lowcarbon development projects funded by nonprofit private finance may be funded by international developmental assistance from NGOs in developed countries. The number of CDM projects that were approved by the Chinese DNA has increased drastically. After the very first CDM project was approved on 10 January 2020, 255 projects were approved by the end of year 2020. In 2020, 773 projects were approved and 570 projects had been approved by 3 November 2020. The tot