4. Evolving to a Sector- Based Clean Development Mechanism
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Determining a Fair Price for Carbon
CD4CDM PERSPECTIVES SERIES PERSPECTIVES SERIES 20 07 he annual CD4CDM Perspectives Series will feature a topic of Equal Exchange: pivotal importance to the global carbon market. The series seeks to communicate the diverse insights and visions of leading actors in the carbon market to better inform the decisions of professionals and 20 07 policymakers in developing countries. The fi rst theme of the series focuses Equal Exchange: on determining an ‘equal exchange’ between carbon buyers and sellers in Determining a CDM transactions. Each of the contributors presents their perspective on the emerging market for emission reductions—its structure, dynamics, Fair Price for Carbon T Price a Fair Determining and likely evolution—as well as how these and other factors, such as risks and fi nancing, infl uence the negotiation power of CDM project sponsors. These insights can help CDM stakeholders to better understand each others’ needs and to maximize the benefi ts accruing to for Carbon all parties through more equitable transactions. P e r s P e c t i v e s s e r i e s 20 07 Equal Exchange: Determining a FairGlenn Hodes and Pricesami Kamel, for Carbon editors Contributors • • Francisco Ascui and Pedro Moura Costa, EcoSecurities • Veronique Bishop, World Bank Group • Jørund Buen, Elisabeth Lokshall, and Marte Nordseth, Point Carbon • Martha Castillo, Andean Development Corporation, Latin American Carbon Program • Martijn Wilder and Monique Willis. Baker & McKenzie • Gao Guangsheng and Li Liyan, Chinese DNA for CDM • Karen Degouve, NATIXIS/European -
Caribbean Climate Change Plans Submitted to the UNFCCC Alexandre Gellert Paris – RCC St Georges (A Collaboration Between UNFCCC and WINDREF)
Caribbean climate change plans submitted to the UNFCCC Alexandre Gellert Paris – RCC St Georges (a collaboration between UNFCCC and WINDREF) On 30 November 2015, world leaders will gather in Paris for the twenty-first Conference of the Parties (COP 21) to the United Nations Framework Convention on Climate Change (UNFCCC). When they met in Durban, South Africa, in 2011, all 196 Parties to the UNFCCC agreed on “adopting a protocol, another legal instrument or an agreed outcome with legal force under the Convention applicable to all Parties”1 at COP 21. Since Durban, the agreement has been reiterated and reinforced by the international community, and expectations are high for a global pact to address climate change. As part of the process, countries were invited to present their climate change plans – or intended nationally determined contributions (INDCs) – to the UNFCCC. 177 countries have submitted their INDCs to date, representing growing political will to take action on climate change and what Christiana Figueres, Executive Secretary of the UNFCCC, has described as a “previously unseen engagement”. The INDCs are a decisive step in the challenging path towards an orderly transition to a global society aligned with the boundaries of the climate system. Several of the INDCs highlight the link between the implied actions to address climate change and the development priorities, including social and economic development and poverty eradication. Some of the INDCs include an unconditional mitigation component alongside an enhanced conditional one. Most of the conditional components relate to the provision of finance, technology or capacity-building support and translate into a percentage increase in the level of effort associated with the related unconditional component. -
The Supplementarity Challenge: CDM, JI & EU Emissions Trading
Policy Paper Nr. 1/2004 Erstellt im März 2004 The Supplementarity Challenge: CDM, JI & EU Emissions Trading This policy paper is a contribution to the ongoing discussion on the Commission’s proposal for a directive ‘amending the Directive 2003/…/EC establishing a scheme for greenhouse gas emission allowance trading within the Community, in respect of the Kyoto Protocol’s project mechanisms’ (henceforward called Proposed Directive and ET Directive respectively). It is largely based on a policy brief that has been produced within the framework of the IEEP/Ecologic contract ‘External expertise on emerging regulatory and policy issues within the responsibility of the EP Environment Committee’ (project EP/IV/A/2003/09/01). This policy brief can be downloaded from the European Parliaments website at http://www.europarl.eu.int/comparl/envi/externalexpertise/default_en.htm. The focus of this paper is on the question of supplementarity in the context of linking the project-based mechanisms CDM and JI to the EU Emission Allowance Trading. The EU 15 as a whole as well as many of its member states will find it very difficult to achieve compliance with the Kyoto Protocol. It might therefore become necessary to make use of the flexibility provided by the Kyoto Protocol. However, the EU’s credibility crucially depends on meeting the supplementarity requirement, i.e. achieving at least 50% of its emission reductions through domestic action. The relevant provision contained in the Proposed Directive is not comprehensive enough to guarantee this outcome, the authors therefore recommend that a more wide-ranging approach is taken. Introduction: The Situation in the EU with Respect to Compliance with the Kyoto Protocol Most of the EU 15 member states will have to make significant additional efforts to achieve compliance with the Kyoto Protocol. -
Climate Change Inaction and Optimism
philosophies Review Climate Change Inaction and Optimism Philip J. Wilson Independent Researcher, Kent CT18 8EN, UK; [email protected] Abstract: The problem of climate change inaction is sometimes said to be ‘wicked’, or essentially insoluble, and it has also been seen as a collective action problem, which is correct but inconsequential. In the absence of progress, much is made of various frailties of the public, hence the need for an optimistic tone in public discourse to overcome fatalism and encourage positive action. This argument is immaterial without meaningful action in the first place, and to favour what amounts to the suppression of truth over intellectual openness is in any case disreputable. ‘Optimism’ is also vexed in this context, often having been opposed to the sombre mood of environmentalists by advocates of economic growth. The greater mental impediments are ideological fantasy, which is blind to the contradictions in public discourse, and the misapprehension that if optimism is appropriate in one social or policy context it must be appropriate in others. Optimism, far from spurring climate change action, fosters inaction. Keywords: cognitive weakness; moral hazard; optimism; climate delay; tragedy of the commons 1. Introduction In 1946 Karl Popper gave a talk entitled ‘Are there philosophical problems?’ chaired by Ludwig Wittgenstein. Popper argued that there really are philosophical problems while Wittgenstein regarded them as mere linguistic entanglements. Exchanges became Citation: Wilson, P.J. Climate vehement, the latter using a poker to emphasize his assertions. In Popper’s version of Change Inaction and Optimism. events, in reply to Wittgenstein’s challenge to name a real moral rule, he replied ‘Not to Philosophies 2021, 6, 61. -
The World Bank
37579 The World Bank Public Disclosure Authorized Public Disclosure Authorized STATE AND TRENDS OF THE CARBON MARKET 2006 Public Disclosure Authorized Washington DC, May 2006 Public Disclosure Authorized With data and analysis provided by Evolution Markets and Natsource STATE AND TRENDS OF THE CARBON MARKET 2006 Karan Capoor, Carbon Finance Unit, World Bank* Philippe Ambrosi, Development Economics Research Group, World Bank* Based on data and insights provided by Evolution Markets LLC and Natsource LLC *The findings and opinions expressed in this paper are the sole responsibility of the authors. They do not necessarily reflect the views of the International Emissions Trading Association (IETA) or of IETA member companies, who cannot be held responsible for the accuracy, completeness, or reliability of the content of this study or non-infringement of third parties’ intellectual property rights. The findings and opinions expressed in this paper also do not necessarily reflect the views of the World Bank, its executive directors, or the countries they represent; nor do they necessarily reflect the views of the World Bank Carbon Finance Unit Team, or of any of the Participants in the Carbon Funds managed by the World Bank. Finally, findings and opinions expressed in this paper do not necessarily represent the views and opinions of Evolution Markets LLC or of Natsource LLC. The CF-Assist program of the World Bank Carbon Finance Unit funded this research. ACKNOWLEDGMENTS We are grateful to many of our colleagues and friends for their cooperation and assistance in preparing this report. Special thanks are due to Mahua Acharya for her active contribution to this study. -
T H E Kyoto Mechanisms & Global C L I M a T E C H a N
T h e Kyoto Mechanisms & Global c l i m a t e c h a n g e Coordination Issues and Domestic Po l i c i e s Prepared for the Pew Center on Global Climate Change by Er ik Ha i t es M ARGAR E E C O N SU L TA N TS I N C . Mal ik Amin Asl am E NVOR K R E S E AR C H A N D D EV E L O P M E N T O RGA N I S AT I O N Sept emb er 2000 Contents Foreword ii E xecutive Summary iii I. Introduction 1 A. The Benefits of Emissions Trading 1 B. The Kyoto Mechanisms 2 C. Implementation Issues 4 D. The Kyoto Mechanisms and Domestic Policies 5 E. Equity, Environmental Integrity, and Economic Efficiency 6 II. Proposed Rules for the Kyoto Mechanisms 9 A. Participation by Legal Entities 9 B. Substitution Among Mechanisms (Fungibility) 10 C. Supplementarity 12 D. Penalties, Enforcement, and Liability 13 E. International Review of Projects 15 F. The Need To Demonstrate Additionality 17 G. Approval by Annex B Parties 19 H. Date When Projects Can Begin To Generate Allowances 20 + I. Eligibility of Sink Enhancement Projects 21 J. Levies on Transactions 21 K. Contribution to Sustainable Development 23 III. Coordination of the Kyoto Mechanisms with Domestic Policies 24 A. Potential Purchase and Use of Kyoto Mechanism Allowances by Legal Entities 25 B. Potential Sales of Kyoto Mechanism Allowances by Legal Entities 29 C. Coordination of Domestic Policies with the Rules of the Kyoto Mechanisms 31 + I V. -
Decoding Article 6 of the Paris Agreement-Version II
Decoding Article 6 of the Paris Agreement—Version II Article 6 of the Paris Agreement enables countries to utilize market and nonmarket approaches to achieve their nationally determined contributions. Yet, international negotiations on Article 6 are complex and ongoing. The Parties of the Paris Agreement have made progress on many issues, but contentious matters on political and technical aspects remain unresolved. This publication presents the latest developments in negotiations, discusses the key outcomes, and highlights the remaining unresolved issues leading up to the 26th United Nations Climate Change Conference of the Parties in Glasgow. About the Asian Development Bank ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members —49 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance. DECODING ARticle 6 OF THE PARIS AGREEMENT VERSION II DECEMBER 2020 ASIAN DEVELOPMENT BANK 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines ASIAN DEVELOPMENT BANK www.adb.org DECODING ARticle 6 OF THE PARIS AGREEMENT VERSION II DECEMBER 2020 ASIAN DEVELOPMENT BANK Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) © 2020 Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 8632 4444; Fax +63 2 8636 2444 www.adb.org Some rights reserved. Published in 2020. ISBN 978-92-9262-619-8 (print); 978-92-9262-620-4 (electronic); 978-92-9262-621-1 (ebook) Publication Stock No. -
Sectoral Approaches and the Carbon Market
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT INTERNATIONAL ENERGY AGENCY SECTORAL APPROACHES AND THE CARBON MARKET www.oecd.org/env/cc/AIXG Richard Baron, Barbara Buchner (IEA) and Jane Ellis (OECD) Graphic design: Betrand Sadin www.iea.org June 2009 For Official Use COM/ENV/EPOC/IEA/SLT(2009)3 Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 29-May-2009 ___________________________________________________________________________________________ _____________ English - Or. English ENVIRONMENT DIRECTORATE INTERNATIONAL ENERGY AGENCY Use Official For COM/ENV/EPOC/IEA/SLT(2009)3 Cancels & replaces the same document of 26 May 2009 SECTORAL APPROACHES AND THE CARBON MARKET Richard Baron, Barbara Buchner (IEA) and Jane Ellis (OECD) The ideas expressed in this paper are those of the authors and do not necessarily represent views of the OECD, the IEA, or their member countries, or the endorsement of any approach described herein. English - Or. English JT03265722 Document complet disponible sur OLIS dans son format d'origine Complete document available on OLIS in its original format COM/ENV/EPOC/IEA/SLT(2009)3 Copyright OECD/IEA, 2009 Applications for permission to reproduce or translate all or part of this material should be addressed to: Head of Publications Service, OECD/IEA 2 rue André Pascal, 75775 Paris Cedex 16, France or 9 rue de la Fédération, 75739 Paris Cedex 15, France. 2 COM/ENV/EPOC/IEA/SLT(2009)3 FOREWORD This document was prepared by the OECD and IEA Secretariats in Spring 2009 in response to the Annex I Expert Group on the United Nations Framework Convention on Climate Change (UNFCCC). -
The Ocean and Climate Youth Ambassadors Programme “A Journey for Climate Hope” September-October 2017
The Ocean and Climate Youth Ambassadors Programme “A journey for climate hope” September-October 2017 PEACE BOAT 1 Introduction With 34 years’ experience organizing educational Building momentum and engaging stakeholders voyages, Peace Boat strongly believes in the power in the countries visited of personal experiences and testimony as a call to action and regularly uses its ship as a venue to Embarking in Barcelona, the young leaders engaged share such first-hand experiences. Peace Boat visits with local, regional and national governments, civil many small island developing states (SIDS) where society and the scientific community taking part in participants learn about climate change and marine awareness raising and outreach events in ports visited, Content degradation. Peace Boat’s Ocean and Climate Youth including in France, Portugal, the United Kingdom Ambassadors Programme, announced at the Ocean and Iceland, concluding their voyage in New York. Conference in June 2017, brought youth leaders About Peace Boat: 2 Participants gave testimony of their experiences and from states on the front line of climate change the impact of climate change and marine degradation Introduction: 3 and marine degradation to travel onboard Peace on their communities, through Talanoa, defined in Boat’s ship in Europe and to New York, engaging Profiles of participants: 4-5 Fiji’s Vision as ‘inclusive, participatory and transparent in capacity building and bringing their message to dialogue that builds empathy and leads to decision Small island nations: 6-7 citizens and government representatives through making for the collective good’. the voyage. The programme was recognized by Barcelona: 8-9 the COP23 Presidency Secretariat as an Endorsed The programme was first announced at the Ocean Lisbon: 10-11 About Event of COP23. -
Linking CDM & JI with EU Emission Allowance Trading
Policy Brief for the EP Environment Committee EP/IV/A/2003/09/01 Linking CDM & JI with EU Emission Allowance Trading Brief number 01/2004 By Thomas Langrock (Wuppertal Institute) Wolfgang Sterk (Wuppertal Institute) With contributions from Maike Bunse (Wuppertal Institute) 12 January 2004 SUMMARY Analysis 1 The Clean Development Mechanism (CDM) and Joint Implementation (JI) are two of the so-called flexible mechanisms of the Kyoto Protocol designed to allow its parties flexibility in achieving their quantified emission limitation and reduction commitments. Under these mechanisms projects that reduce emissions or remove carbon dioxide from the atmosphere generate emission certificates: Certified Emission Reductions (CERs) in the case of the CDM, Emission Reduction Units (ERUs) in the case of JI. 2 On 23 July 2003 the Commission of the European Communities put its proposal for a ‘Directive of the European Parliament and of the Council amending the Directive 2003/…/EC establishing a scheme for greenhouse gas emission allowance trading within the Community, in respect of the Kyoto Protocol’s project mechanisms’ on the table. The proposed Directive is thus to amend Directive 2003/87/EC (ET Directive). 3 The new Article 11(bis) that is proposed for the ET Directive establishes a link between CDM & JI on the one side and EU emission allowance trading on the other. According to this proposed article, the actual flow of emission certificates from a CDM/JI project developer to one of the EU Member States will be as follows: the CDM/JI project developer receives CERs/ERUs after the project has successfully undergone the project cycle for CDM/JI projects respectively. -
Paris Climate Talks
NATURE | VIDEO Paris climate talks: Voices from the frontline Politicians, scientists, environmentalists and others tell Nature about their hopes for the UN climate summit — and what comes next. Noah Baker & Jeff Tollefson 30 November 2015 PARIS Negotiators from more than 190 nations have gathered in Paris to hash out a new global agreement to reduce greenhouse-gas emissions. Nature's roving reporters are on the scene at the United Nations climate summit, interviewing key players in the talks about why they're at the meeting, how they define a “good deal”, and why they care about climate change. Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change Nature special: 2015 Jostein Solheim, CEO of ice-cream maker Ben & Jerry's Paris climate talks Margaret Leinen, director of the Scripps Institute of Oceanography Brian Schatz, US senator from Hawaii Bill Gates, philanthropist and Microsoft founder Lidy Nacpil, environmental activist from the Philippines Anote Tong, president of Kiribati Diana Liverman, co-director of the University of Arizona Institute of the Environment Izabella Teixera, Brazil's environment minister Saleemul Huq, advisor to least-developed nations Manuel Pulgar Vidal, Peru's environment minister Sam Smith, leader of the WWF Climate and Energy Initiative Karsten Sach, German negotiator Wimar Witoelar, spokesman for Indonesia's environment minister Andrew Steer, president of the World Resources Institute Henry Puna, prime minister of the Cook Islands Chebet Maikut, a negotiator for Uganda Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change Christiana Figueres is the UN's top climate-change official. She tells Nature about her hopes for the climate talks in Paris. -
WWF Position on International Compliance Carbon Markets
25 November 2019 version WWF position on International Compliance Carbon Markets This position details criteria and recommendations for how international compliance carbon markets should be designed and how they should operate. Specifically, this position pertains to decisions that will be taken by countries within the United Nations Framework Convention on Climate Change (UNFCCC) regarding implementation guidelines for Article 6, paragraph 2 (6.2) and Article 6, paragraph 4 (6.4) of the Paris Agreement.1 Article 6.2 could be considered an accounting system involving the use and transfer of mitigation outcomes.2 Article 6.4 reflects an agreement among countries that a centralized crediting mechanism must be established; the Article 6.4 mechanism is thought of by most as the successor to the Clean Development Mechanism (CDM) and Joint Implementation (JI) that have served the Kyoto Protocol. This position also pertains to the International Civil Aviation Organization’s (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)3, because preventing double counting in CORSIA requires greater clarity from the UNFCCC on the rules under Article 6.2. (Airlines may fulfill their offsetting obligations under CORSIA by purchasing carbon credits deemed eligible by ICAO.) This paper does not delve deeply into voluntary carbon markets. WWF recently agreed to a paper titled “WWF position and guidance on voluntary purchases of carbon credits” position paper which provides recommendations for corporates on carbon credits and presents a communications protocol for WWF offices for advising on and amplifying corporate carbon credit purchases. There are internal and external facing versions of this paper. Similarly, this position does not comment on the integrity of domestic market-based climate measures like the EU Emissions Trading System (ETS), the Western Climate Initiative (Quebec- California linked ETS), or the Colombian Carbon Tax.