Clean Development Mechanism
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In theory, the CDM allows for a drastic reduction of costs for the industrialised countries, while achieving the same amount of emission reductions as without the CDM. In practise, however the emission reductions may be less with CDM than without it and may lead to unsustainable practises.
The CDM is supervised by the CDM Executive Board (CDM EB) and is under the guidance of the Conference of the Parties (COP/MOP) of the United Nations Framework Convention on Climate Change (UNFCCC).
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History and Purpose
The CDM arose out of the negotiations of the Kyoto Protocol in 1997. The United States government desired that there be as much flexibility in achieving emission reductions as possible and desired a possibility of international emissions trading to achieve the emission reductions where it could be done at least cost. During the time it was considered a controversial element and was opposed throughout by environmental NGOs and initially by developing countries who felt that industrialised countries should put their own house in order first and feared the environmental integrity of the mechanism would be too hard to guarantee (see #Environmental concerns below). Eventually, and largely on US insistence, CDM and two other flexible mechanisms were written into the Kyoto protocol.
The purpose of the CDM was defined under Article 12 of the Kyoto Protocol. Apart from helping Annex 1 countries comply with their emission reduction commitments, it must assist developing countries in achieving sustainable development, while also contributing to stabilization of greenhouse gas concentrations in the atmosphere.
To prevent industrialised countries from making unlimited use of CDM, Article 6.1 d) has a provision that use of CDM be ‘supplemental’ to domestic actions to reduce emissions.
The CDM gained momentum in 2005 after the entry into force of the Kyoto Protocol which was a key risk factor for investors. Nevertheless, the throughput has been less than expected due to understaffing and lack of resources at the EB.
CDM project process
Outline of the project process
An industrialised country who wishes to get credits from a CDM project must obtain the consent of the developing country hosting the project that it will contribute to sustainable development. Then, using methodologies approved by the CDM Executive Board (EB), the applicant (the industrialised country in our case) must make the case that the project would not have happened anyway (establishing additionality), and must establish a baseline estimating the future emissions in absence of the registered project. The case is then verified by a third party agency, a so-called Designated Operational Entity to ensure the project results in real, measurable, and long-term emission reductions. Upon final approval by the Executive Board a number of Certified Emission Reductions, CERs, are awarded to the applicant based on the difference between the baseline and the actual emissions.
Establishing additionality
To avoid giving credits to projects that would have happened anyway, rules have been specified to ensure additionality of the project, i.e. to ensure that the project reduces emissions more than would have occurred in the absence of the registered CDM project activity. There are currently two important rivalling interpretations of the additionality criterion:
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