* Regulatory, political & credit risks may kill CDM pre-2012

* Industrial gas projects most risky; poor nations best bet

* Sellers looking for good credit ratings, snubbing banks

By Michael Szabo

LONDON, Oct 23 (Reuters) – A combination of investment risks threatens to almost completely obstruct an already stumbling U.N.-backed $6.5 billion market in clean energy projects in emerging nations, years before the scheme’s first phase is due to end.

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Tags: CDM, CERs, GHG emission