UNEP Risoe Centre launches publication on a reformed CDM

Since the Kyoto Protocol entered into force in 2005, the CDM has developed very rapidly with more than 4000 projects in the pipeline and a further 120 new projects entering the pipeline every month.

At the same time, the CDM has encountered a number of challenges and weaknesses, including unequal distribution of projects, concerns about environment integrity, and the lack of technology transfer, complex governance procedures, and questions about the CDM’s contribution to sustainable development.

Perspectives 2008 - A Reformed CDM – including new Mechanisms for Sustainable Development tries to answer the question “Where to from here?”

“This second edition of Perspectives explores how the CDM can be improved as negotiators prepare for a post 2012 climate agreement,” says Karen Olsen, Editor of Perspectives and researcher at UNEP Risø Centre.

Perspectives presents diverse insights on reforming and reinforcing the CDM in a post-2012 climate regime from 17 leading actors in the rapidly developing carbon market.

The goal of compiling these views is to better inform the decisions of professionals and policy makers in the lead-up to the Copenhagen COP and beyond.

“The success of the CDM has demonstrated the value of carbon markets as one tool to achieve internationally agreed political targets, but there are still concerns to be addressed and new mechanisms for sustainable development to be considered, “Jørgen Fenhann, co-editor and senior researcher, says.

The challenge being most discussed now is how to build off the existing CDM to create a much greater participation from developing countries post 2012 that can help them substantially transit to a development path free of damaging carbon emissions. It is suggested that one way forward is that the CDM move from a project-based level, to a sector or programme-based level.

Perspectives includes thirteen papers exploring four key issues:

Sustainable development and equity
• Implications for the Development Dividend in a post-2012 regime
• Towards transformational change for SD in Brazil
• Perspectives from Africa
• Ethical and development perspectives on governance

Institutional reform
• Assessment of the experience and expectations for the future
• How to improve the existing CDM institutional set up – a governance perspective
• Procedural changes to increase supply
• Promoting technology transfer and developed country financing of CDM projects

Expansion of project categories
• Finance for sustainable urban transport
• Scaling up energy efficiency

Scaling up mitigation
• Sector no-lose targets for developing countries
• The role of LULUCF including REDD in a post 2012-regime
• Replicable business models for programmatic CDM toscale up emission reductions

Perspectives 2008 - a reformed CDM – including new Mechanisms for Sustainable Development is available at: www.uneprisoe.dk and www.cd4cdm.org