This Article Abstract Free Full Text (Free PDF) Free Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Scopus Google Scholar Articles by Figueres, C. Articles by Streck, C. Social Bookmarking                         What's this?

The Evolution of the CDM in a Post-2012 Climate Agreement

Former member of the Executive Board of the Clean Development Mechanism, christiana{at}figueresonline.com

Charlotte Streck

Director of Climate Focus

Despite the many calls to reform the Clean Development Mechanism (CDM), its conceptual underpinnings are strong and it will most likely survive in the post-2012 climate regime. Some modifications may be considered in the short term to strengthen the effectiveness and transparency of the mechanism without modifying the Marrakech Accords. In the medium term, substantially increased mitigation efforts in developing countries may require a combination of three possible financial mechanisms: the current activity-based CDM albeit improved, a second market mechanism that would seek to improve the long term emission trends of developing countries by promoting broad-based emission reduction programs primarily in the private sector, and a third— nonmarket—financial mechanism that would provide an incentive for the adoption of policy changes leading to a low carbon path, but where emission reductions would not be used as international offsets.

Key Words: CDM • post 2012 climate regime • carbon market mechanisms • climate finance

References

• Baumert, K., & Winkler, H. ( 2005). SD-PAMs and international climate agreements. In R. Bradley, K. Baumert, & J. Pershing (Eds.), Growing in the greenhouse: Protecting the climate by putting development first (pp. 15-23). Washington, DC: World Resource Institute.
• Bodansky, D. ( 2007). International sectoral agreements in a post-2012 climate framework. Pew Center. Retrieved May 9, 2009, from http://www.pewclimate.com/docUploads/International%20Sectoral%20Aggreements%20in%20a%20Post-2012%20Climate%20Framework.pdf
• Bosi, M., & Jane, E. ( 2005). Exploring options for "sectoral crediting mechanisms ". Paris: Organization for Economic Co-operation and Develop-ment (OECD)/International Energy Agency (IEA), COM/ ENV/EPOC/IEA/SLT (2005) 1.
• Clémençon, R. ( 2008). Bali road map. A first step on the difficult journey to a Post-Kyoto protocol agreement. Journal of Environment and Development, 17(1), 70-94.[CrossRef]
• Cosbey, A., Parry, J.E., Browne, J., Babu, Y.D., Bhandari, P., Drexhage, J., et al. (2005). Realizing the development dividend: Making the CDM work for developing countries. Winnipeg, Manitoba, Canada: International Institute for Sustainable Development.
• Egenhofer, C., & Fujiwara, N. ( 2008). Global sectoral industry approaches to climate change. The way forward., Brussels, Belgium: Center for European Policy Studies.
• Figueres, C. ( 2007a, May) From tons to trends. In L. Swart & E. Perry (Eds.), Global environmental governance, perspectives on the current debate (pp. ). New York: Center for UN Reform Education.
• Figueres, C. ( 2007b) The Bali Batik: Design options for the post 2012 Climate Regime. Sustainable Development and Human Settlements Division of ECLAC, Santiago de Chile.
• Figueres, C., Haites, E., & Hoyt, E. ( 2005). Programmatic CDM Project Activities: Eligibility, Methodological Requirements and Implementation. Study for the Carbon Finance Business Unit of the World Bank.
• Figueres & Newcombe. (2007). Evolution of the CDM, 2012 and beyond. United Nations Foundation.
• Gregg, J.S., Andres, R.J., & Marland, G. ( 2008). China: Emissions pattern of the world leader in CO2 in Co2 emissions from fossil fuel consumption and cement production. Geophysical Research Letters, 35, L08806, doi: 10.1029/2007GL032887.[CrossRef]
• Holm Olsen, K. ( 2007). The clean development’s contribution to sustainable development: A review of the literature. Climatic Change, 84, 59-73.[CrossRef]
• Holm Olsen, K., & Fenhann, J. ( 2008). Sustainable development benefits of clean development mechanism projects. A new methodology for sustainability assessment based on text analysis of the project design documents submitted for validation. Energy Policy, 36, 2819-2830.[CrossRef]
• Höhne, N. & Ellermann, C. ( 2008, August 20). A sectoral approach and technology transfer for the cement sector. Retrieved November 10, 2008, http://www.bafu.admin.ch/klima/index.html?lang=en&download=NHzLpZeg7t,lnp6I0NTU042l2Z6ln1ad1IZn4Z2qZpnO2Yuq2Z6gpJCFeYR6fGym162epYbg2c_JjKbNoKSn6A--.pdf
• Hoogzaad, J., Korthuis, A., & Streck, C. ( 2008, October). A call to reform. Carbon Finance.
• International Energy Agency. (2008). International energy agency, issues behind competitiveness and carbon leakage.
• International Emissions Trading Association ( 2008). State of the CDM 2008. Geneva, Switzerland: Author. Retrieved May 9, 2009, from http://www.ieta.org/ieta/www./pages/getfile.php?docID=3111
• Meijer, E. ( 2007). The international institutions of the clean development mechanism brought before national courts: Limiting jurisdictional immunity to achieve access to justice. NYU Journal of International Law and Politics, 39, 877.
• Meinshausen, M., Hare, B., Wigley, T.M.L., van Vuuren, D., den Elzen, M.G.J., & Swart, R. ( 2006, March). Multi-gas emissions pathways to meet climate targets. Climate Change, 75, 151-194.[CrossRef]
• Michaelowa, A., & Purohit, P. ( 2007). Additionality determination of Indian projects: Can Indian CDM project developers outwit the CDM executive board? Available from http://medias.lemonde.fr/mmpub/edt/doc/20070608/920594_additionality_determination_of_indian_cdm_projects.pdf
• Nussbaumer, P. ( 2009). On the contribution of labelled certified emission reductions to sustainable development: A multicriteria evaluation of CDM projects. Energy Policy, 37, 91-101.[CrossRef]
• Røine, K., Tvinnereim, E., & Hasselknippe, H. (Eds.). (2008, March 11). Carbon 2008. Post-2012 is now. Retrieved May 9, 2009, from www.cabi.org/environmentalimpact/?site=138&page=165
• Samaniego, J., & Figueres, C. ( 2002). Evolving to a Sector-Based Clean Development Mechanism. In K. Baumert, O. Blanchard, S. Llosa & J. F. Perkaus (Eds.), Building on the Kyoto protocol: Options for protecting the climate (pp. 89-108). Washington, DC: World Resources Institute.
• Schneider, L. ( 2007). Is the CDM fulfilling its environmental and sustainable development objective? An evaluation of the CDM and options for improvement. Berlin, Germany: Oko Institut.
• Stehr, H.J. ( 2008). Does the CDM need an institutional reform. Perspectives. Available from www.eci.ox.ac.uk/~dliverma/CV/UNEP%20RISOE%20CDM%20Liverman%20and%20Boyd.pdf
• Sterk, W., & Wittneben, B. ( 2006, September). Enhancing the clean development mechanism through sectoral approaches: definitions, applications and ways forward. International environmental agreements: Politics, law and economics, 6, 271-287.[CrossRef]
• Streck, C. ( 2007). The governance of the Clean Development Mechanism-The case for strength and stability [Special Issue]. Environmental Liability Journal, 15(2), 91.
• Streck, C., & Chagas, T. ( 2007). The future of the CDM in a post-Kyoto world. Carbon & Climate Law Review, 1, 53.
• Streck, C., & Lin, J. ( 2008). Making markets work: A review of CDM performance and the need for reform. European Journal of International Law, 19, 409-442.[Abstract/Free Full Text]
• Sutter, C., & Parreño, J.C. (2007). Does the current Clean Development Mechanism (CDM) deliver its sustainable development claim? An analysis of officially registered CDM projects. Climate Change, 84, 75.[CrossRef]
• UN Framework Convention on Climate Change. ( 2007). Investment and financial flows relevant to the development of an effective and appropriate international response to climate change. Retrieved May 9, 2009, from http://unfccc.int/cooperation_and_support/financial_mechanism/items/4053.php
• UN Framework Convention on Climate Change. ( 2007a). Call for input on non-binding best-practice examples on the demonstration of additionality to assist the development of pdds, particularly for SSC project activities. Retrieved May 9, 2009, from cdm.unfccc.int/public_inputs/dev_PDDs/cfi/R5142ZGKFD6FF6IW5MZEID3DJJKYH6
• UN Framework Convention on Climate Change. ( 2008, November). Update on Investment and Financial Flows.Retrieved May 9, 2009, from http://unfccc.int/resource/docs/2008/tp/07.pdf
• von Unger, M., & Charlotte S.( 2009) An appellate body for the Clean Development Mechanism: A due process requirement. Carbon and Climate Law Review, 31.
• Wara, M. ( 2006). Measuring the clean development mechanism's performance and potential. Working paper.
• Wara, M. ( 2007). Is the global carbon market working? Nature, 445, 595.[CrossRef][Medline] [Order article via Infotrieve]
• Wara, M., & Victor, D. ( 2008, April). A realistic policy on international carbon offsets (PESD Working Paper No. 74). Stanford, CA: Stanford University.
• Ward, M., Streck, C., Winkler, H., Jung, M., Hagemann, M., Höhne, N., et al. (2008). The role of sector no-lose targets in scaling up finance for climate change mitigation activities in developing countries. London: DEFRA.
• Watanabe, R. et al. (2008). The Bali roadmap for global climate policy: New horizons and old pitfalls. Wuppertal Institute for Climate, Environment and Energy.
• World Bank. (2006, November). UKRAINE: Options for Designing a Green Investment Scheme under the Kyoto Protocol. World Bank Report 37949, pp. 11-16. Retrieved February 20, 2009, from http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/ECAEXT/UKRAINEINUKRAINIANEXTN/0,,contentMDK:21287333~pagePK:141137~piPK:141127~theSitePK:455681,00.html
• World Bank. (2008). State and trends of the carbon market 2008. Retrieved November 10, 2008, from http://carbonfinance.org/docs/State___Trends--formatted_06_May_10pm.pdf

The Journal of Environment & Development, Vol. 18, No. 3, 227-247 (2009)
DOI: 10.1177/1070496509337908


CiteULike    Complore    Connotea    Del.icio.us    Digg    Reddit    Technorati    Twitter    What's this?

This Article Abstract Free Full Text (Free PDF) Free Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Scopus Google Scholar Articles by Figueres, C. Articles by Streck, C. Social Bookmarking                         What's this?