WATCH THIS! NGO Voices on Climate Finance & Carbon Markets #17 December 2016

Editorial

Dear partners,

As 2016 is coming to an end, I would like to take this opportunity to thank all of you who have joined us in our multiple online actions throughout the year.

Your engagement has led to a historical victory: In November, Panama’s government withdrew Barro Blanco’s registration from the UN Clean Development Mechanism (CDM). The decision followed our intense campaigning and an open letter co signed by 75 organisations worldwide.  The withdrawal means that the large hydro project, which has violated human rights and failed to contribute, to sustainable development, will not receive any carbon credits.

We hope that this will create momentum for establishing a CDM grievance mechanism and guaranteeing strong safeguards under the future Sustainable Development Mechanism (SDM). You will find more information in this edition’s articles discussing the COP22 outcomes related to carbon markets.

Finally, let us not forget the dire situation on the ground, as local communities affected by Barro Blanco are still being inundated by the “test” flood. The CDM deregistration will not have any direct impact on them. Carbon Market Watch calls on the Panamanian government to empty the reservoir and to work with the communities to find an equitable solution involving all affected stakeholders.

Happy reading,

Pierre-Jean, network coordinator

Watch This! NGO voices on Climate Finance and Carbon Markets appears quarterly in English, French and Spanish with campaign updates and opinion pieces from around the world. Any comments or article ideas? Please get in touch with pj.brasier@carbonmarketwatch.org