Prepared for Subsidiary Body for Implementation, 41th Session, 1-8 December 2014
The future role of the CDM in the 2015 climate treaty is likely to be very limited for a number of reasons. From 2020, also developing countries are expected to contribute to the global mitigation efforts. This has a big impact on the original purpose of the CDM for a number of reasons 1) developing countries will want to account for their own emission reductions 2) developed countries will have to have much higher climate mitigation targets 3) emission reductions in developing countries will have to be financed in addition to climate action in developed countries.
The role of the CDM as an offsetting mechanism, or in an evolved form, in a 2015 climate treaty will be discussed as part of the wider discussion in the ADP and as part of the deliberations on the Framework for Various Approaches (FVA) in SBSTA. These views reflect on the experience with the CDM to date and provide recommendations for a fundamental change of the modalities & procedures should these be used in any form in a future climate treaty.