New Market Mechanisms for Climate Change Mitigation

Climate policy seems far away from the preoccupations of policymakers grappling with the fallout of the Fukushima crisis and the Arab revolutions. So the statement of US and EU climate negotiators that they do not expect a breakthrough at the Durban COP is unsurprising. Given that gloomy background, the CDM market quietly passes important milestones such as the 1000th project with issued CERs and the 3000th registered project. The rush to achieve pre-2013 registration is reflected in continued near-record numbers of projects starting validation. Moreover, CERs are churned out at an unprecedented speed - the reforms of the Secretariat’s procedures are clearly bearing fruit. 119 million CERs were issued in the first four months of 2011, almost the same volume as during the whole of 2010!

Bangladesh unveiled a low carbon growth plan that envisages a 30 per cent emission reduction below the business as usual scenario of 150 million tCO2e by 2030. Though, the country makes this conditional on obtaining international support. Indonesia, Thailand, China, Chile, Colombia, Costa Rica, Mexico, Ukraine and Turkey have all submitted expressions of interest in the bank’s Partnership for Market Readiness. This shows a high willingness to engage in new market mechanisms of these large and important countries.

Japan has opened an application phase for projects under its bilateral mechanism. Domestic companies and NGOs may submit proposals until 26 May, prioritising waste, wastewater, biomass, agriculture, forestry and transport. The still juvenile character of REDD attracts spurious market actors. Just recently, an Australian carbon offset developer has been accused to be involved in a massive REDD fraud. The company took several million Euros, inter alia to offset the emissions of schools or sport events and claimed to provide forest protection credits. But apparently the respective conservation projects in Malaysia, DR Congo or on the Philippines do not exist.

I shall hopefully be at COP 17 Durban. I will share a feed-back!


By: Timothy On Tuesday, 17 May 2011 Comment Comments( 9 ) Hits Views(533)
Comments Indian Energy issues

India is the world’s eleventh-largest energy producer,

with 2.4 percent of energy production, and the world’s

sixth-largest consumer, with 3.5 percent of global

energy consumption. Domestic coal reserves account for

70 percent of India’s energy needs. The remaining 30

percent is met by oil, with more than 65 percent of that

oil being imported. Demand for energy is expected to

double by 2025; by then, 90 percent of India’s

petroleum will be imported.


By: king , On Tuesday, 17 May 2011
Comments Re: Indian Energy issues

Thanks Mohammad. The situation is not peculiar to India alone. The long-term sustainability strategy would be to enact new market-driven low carbon policies. That could make renewable enrgies more attractive and reduce the dependence on fossil fuels, while at the sametime, setting the framework for an effective emissions reductions and climate change mitigation strategy. I believe we shall get there!

By: Timothy , On Sunday, 29 May 2011
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