Reform of the Clean Development Mechanism: Where Should We Head For?

The Clean Development Mechanism (CDM) has been a great success in promoting mitigation projects in developing countries in the past several years. However, for various reasons, there have also been many calls for reform of the CDM. The international community has agreed that the CDM should continue and could be improved, but has not reached an agreement on the way forward. One of the issues under intensive debate is whether to create new market mechanisms, namely sectoral mechanisms. Regardless of what future agreement on this aspect would be, both lessons from the CDM practice and issues related to the operationalization of the possible new mechanisms should be fully taken into consideration. One possible solution could be developing a flexible system that suits the different situations in different countries and/or sectors.

When the Clean Development Mechanism (CDM) was established under Article 12 of the Kyoto Protocol (the Protocol) in 1997, it was not clear at that time what the CDM market would look like during the first commitment period of the Protocol. Now the picture is much clearer. By the end of September 2010, almost 6 years after the registration of the first-ever CDM project on 18 November 2004, more than 2400 CDM projects have been registered, with expected annual average certified emission reductions (CERs) of more than 383 million and located in 69 countries. In terms of sectors, more than 63 % of the registered projects are related to the energy industries, more than 16 % waste handling and disposal, and about 5 % come from the manufacturing industries. The CDM has been a great success, contributing significantly to promoting sustainable development in developing countries and reducing the cost for developed countries in meeting their mitigation commitment under the Protocol.
 
With greater experience of the workings of the CDM, there has been increasing criticism of the CDM system by various stakeholders, focusing mainly on the following aspects.



Copyright: © Lexxion Verlagsgesellschaft mbH
Quelle: Issue 2/2011 (Juni 2011)
Seiten: 9
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Autor: Maosheng Duan

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