Gaia launched a new report on the challenges and potentials of the Clean Development Mechanism (CDM) today at Geneva, in an international UNCTAD Expert Meeting. The report shows that a common understanding of the expected role of CDM could significantly contribute to building an ambitious international climate regime for tomorrow.
Cheap oil price, economic downturn and the complicated negotiations on post 2012 climate agreement pose challenges for CDM work. However, CDM forms one central component of the climate mitigation work on the carbon markets. Despite several success stories, the CDM results have not always been fully clear or appreciated by all. The benefits related to sustainable development, technology transfer, additionality of funding and global emission reductions have been questioned as well as the equitable distribution of the benefits.
“Both climate, developing and developed countries could greatly benefit from implementing the clean development mechanism successfully. Our road maps for climate negotiations, policy formulation and implementation, can learn important lessons from the CDM”, emphasized Gaia’s Senior Consultant Mikko Halonen in Geneva.
The UNCTAD (United Nations Conference on Trade and Development) Expert meeting, “Trade and investment opportunities and challenges under the Clean Development Mechanism (CDM)”, was organised today in Geneva, Switzerland. The expert meeting analysed appropriate 21st century models for sustainable development and poverty reduction.
The CDM allows industrialised countries with a greenhouse gas reduction commitment to invest in projects that reduce emissions in developing countries as an alternative to more expensive emission reductions in their own countries. It offers a win-win-win opportunity. Developed countries can benefit from greater flexibility to meet their emissions reductions targets, and developing countries can achieve sustainable development gains, including attract new investment and transfer of climate-friendly technologies. The global community can achieve certified reductions of global greenhouse gas emissions in a cost-effective way.
- Mikko Halonen, tel. +358 40 700 2190, firstname.lastname@example.org