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CLEAN DEVELOPMENT MECHANISM OF THE KYOTO PROTOCOL

CLEAN DEVELOPMENT MECHANISM OF THE KYOTO PROTOCOL. Group J - Matt Bastyan , Simon Crook, Joe Payne, Sarah Teverson , Michael Treiber, Paula Urry. Introduction. Definition of the CDM Section A: Types of projects (renewable, buildings & afforestation/reforestation)

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CLEAN DEVELOPMENT MECHANISM OF THE KYOTO PROTOCOL

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  1. CLEAN DEVELOPMENT MECHANISM OF THE KYOTO PROTOCOL Group J - Matt Bastyan, Simon Crook, Joe Payne, Sarah Teverson, Michael Treiber, Paula Urry

  2. Introduction • Definition of the CDM • Section A: Types of projects (renewable, buildings & afforestation/reforestation) • Section B: Standards & definitions • Conclusion

  3. DEFINITION ‘The purpose of the clean development mechanism shall be to assist Parties not included in Annex I in achieving sustainable development and in contributing to the ultimate objective of the Convention, and to assist Parties including Annex I in achieving compliance with their quantified emission limitation and reduction commitments […].’ (UNFCCC, 1998) Clean development mechanism

  4. Section A: Individual sectors Project Mix of CDM(UNEPRisoe, 2010)

  5. Afforestation & Reforestation • 15% of global anthropogenic carbon emissions are from deforestation • “forest” within CDM

  6. A/R Conclusions • Barriers within A/R sector: • CDM policies and guidelines are unclear • Community based projects often over looked • Economic incentives favour profitable projects • Maximum crediting period of 21 years is not enough for A/R projects • Carbon sequestration calculations ignore parts of the forest carbon cycle

  7. Including: Hydropower Geothermal Wind power Renewable

  8. More projects under CDM than other sectors Majority are hydropower (27%) Negatives associated with renewable sector: Projects can cause large scale relocation Financial investment is limited Renewable Conclusions

  9. Building sector • 25-30% energy related CO2 emissions globally • Low costs technologies and measures allow great potential for emissions reductions • Few projects approved, therefore, emissions curbing is limited

  10. Building Sector Conclusions • Barriers within buildings sector: • Many small emissions sources • Technology specific measures • Lack of baseline and monitoring methodologies • Difficulty proving project additionality • Economic incentive too weak

  11. Section B: Standards & definitions

  12. Additionality • Emissions ‘[...] by sources are reduced below those that would have occurred in the absence of the registered CDM project activity.’ (UNFCCC, 2002) • Greenhouse gas emissions from the projects are lower than if the project did not take place (Mendis & Openshaw, 2004)

  13. Reasons for rejection

  14. Sustainable development • Underlining principle of CDM • ‘[…] meeting the needs of the present without compromising the ability of future generations to meet their own needs.’ (UN, 1987) • Host countries define SD criteria (Marrakesh Accord, 2001)

  15. Limitations for host countries • Multiple definitions of key CDM requirements • Additionality favours existing technology, it is a barrier to innovation • Competition to attract investment driving down sustainable development standards • “Race to the bottom” (Sutter & Parreno, 2007)

  16. Opportunities for financial institutions • Major traders are speculators (Chan, 2009) • Potential cost savings by using CERs instead of EUAs • Oligopoly of DOEs • e.g. TUVSUD • ‘green-washing’ • e.g. BP, Shell, CER €t-1 (15 Mar-26 Apr 2010) (Point Carbon, 2010)

  17. Conclusion • Projected reduction of 1,035mt CO2e by 2012 through CDM But… • Untapped potential of CDM • CDM aims are overlooked • Corporate gain not emission reduction not sustainable development

  18. Questions?

  19. References Chan, M. (2009) Subprime carbon? Re-thinking the world’s largest new derivatives market, Friends of the Earth, USA Point Carbon. (2010). Carbon Market Daily. Retrieved April 26, 2010, from Point Carbon: http://www.pointcarbon.com/news/cmd/1.1439103 Sutter, C. & Parreno, J. (2007) Does the current Clean Development Mechanism (CDM) deliver its sustainable development claim? An analysis of officially registered CDM projects, Climatic Change, Vol. 84, pp. 75-90 UN (1987) Report of the World Commission on Environment and Development, General Assembly Resolution 42/187, 11.12.1987 (Access date: 19.4.2010) UNEP Risoe. (2010). CDM Pipeline Analysis and Database, March 1st 2010. Retrieved April 11, 2010, from UNEP Risoe Centre: Energy, Climate and Sustainable Development: http://cdm pipeline.org/ UNFCCC. (1998). Kyoto Protocol - Article 12 . Retrieved April 2010, from United Nations Framework Convention on Climate Change: http://unfccc.int/resource/docs/convkp/kpeng.pdf#page=12 UNFCCC. (2001). The Marrakesh Accords. Retrieved April 2010, from United Nations Framework Convention on Climate Change: http://unfccc.int/cop7/documents/accords_draft.pdf UNFCCC (2002) Report of the Conference of the parties on its seventh session, held at Marrakesh from 29 October to 10 November 2001 – Part two: Action taken by the conference of the parties: http://unfccc/cp/2001/13/Add.2

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