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The Clean Development Mechanism: Local Impacts of a Global System
Executive Summary The Clean Development Mechanism (CDM) was set up under the 1997 Kyoto Protocol to allow developed countries to buy emissions reductions from developing countries in the form of credits, called Certified Emissions Reductions (CERs). The objectives of the CDM are to help developed countries achieve their climate commitment and to assist developing countries in achieving sustainable…
Reconciling CORSIA and the Sustainable Development Mechanism
Executive Summary The Paris Agreement breaks away from the division of “developed” vs. “developing” countries which was enshrined in the Kyoto Protocol. It sets a new dynamic which will inevitably impact the next generation of carbon markets. It further sets new objectives for these mechanisms, such as contributing to overall mitigation of global GHG emissions and…
The CORSIA: ICAO’s market based measure and implications for Europe
Executive Summary On October 6th, Member States of the International Civil Aviation Organisation (ICAO) agreed on an offsetting scheme to compensate for emissions growth from 2020 levels. The new scheme, called the Carbon Offset and Reduction Scheme for International Aviation (CORSIA), falls short of achieving the goal of carbon neutral growth in 2020 (CNG2020), let…
Cabin cross check: Safety criteria for aviation’s market-based measure
Summary Aviation accounts for approximately 4.9% of all global warming1 and is projected to grow by up to 300% by 2050 if left unaddressed. In order to limit the global average temperature rise to 1.5°C above preindustrial levels, international aviation must contribute to the global effort to reduce emissions. The International Civil Aviation Organization (ICAO), the international body responsible…
Paris outcomes: Carbon Market Watch Analysis of COP 21
From 30 November to 12 December 2015, Parties to the UNFCCC met in Paris to negotiate a new global climate treaty.
The Paris Agreement was a remarkable outcome, especially after the failures of Copenhagen. Almost all involved, including Carbon Market Watch, seemed surprised at how positive the outcome was. However, expectations had been carefully managed in the preceding years, so that aspirations of environmentalists to have a treaty that reflected the scientific reality by dividing up the remaining global carbon budget, had been downplayed into unreality.
Recommendations related to the role of carbon markets in the Paris Agreement
Only very few countries have outlined in their Intended Nationally Determined Contributions (INDCs) that they will use international trading as a means to help achieve their climate goals. However, despite the limited role of markets expressed by most industrialised countries in their INDCs, such as the EU and the US, the political reality regarding domestic carbon pricing schemes looks different: jurisdictions responsible for 40% of the global economy have already implemented carbon pricing mechanisms.
Policy Brief: Aviation’s Credibility on Environmental Integrity
ICAO is developing a Global Market Based Mechanism to achieve the goal of carbon neutral growth in the industry post-2020. Work is currently in progress to define which credits should be eligible to be used as offsets in this market.
Policy Brief: Social and environmental accountability of climate finance instruments
Climate change is a global injustice to present and future generations, and one of the greatest human rights challenges of our time. For one, climate change has a significant effect on several human rights, such as the right to safe and adequate water and food, the right to health and adequate housing, and the right to life. On the other hand, certain actions to address climate change can directly result in adverse impacts on human rights.
Fact Sheet – Santa Rita, CDM Hydro Dam in Guatemala
ENGLISH The Santa Rita Hydroelectric Plant in the Dolores River in the Alta Verapaz region in Guatemala was registered as a Clean Development Mechanism (CDM) project in June 2014. The communities living in the Alta Verapaz region are completely dependent on the water of the river for their livelihoods. The Guatemalan Agreement on Identity and Rights of Indigenous Peoples…