This document discusses international carbon offset markets, the Clean Development Mechanism (CDM), and alternative standards like the Gold Standard and Climate, Community and Biodiversity (CCB) Standard. It provides an overview of the development of emissions trading, the Kyoto Protocol, and the CDM project cycle. It also examines criticisms of the CDM, including concerns about additionality and sustainable development objectives. Examples of CDM projects in hydro power and HFC destruction are outlined. The performance and standards of alternative offset programs like the Gold Standard and CCB Standard are briefly compared to the CDM.

1. Understanding International Carbon Offsets Markets, Experts, States, Civil Society Declan Kuch Please send comments, questions to: [email_address]

2. Emissions trading as ‘brackish economics’

7. Flexibility ‘Prongs’ of the Kyoto Protocol source: Michaelowa (2009)

8. Competing Objectives Industrial Rationale National Rationale (Global) Civic Rationale

9. CDM Project Cycle (on paper)

10. CDM Project Cycle (in reality) source: Michaelowa (2009)

11. ‘ Additionality’ in Theory

12. Theory of Baseline Tradeoffs

14. CERs by Project Type Source: UN Risoe Sept 2010

15. Methodologies: No Learning Source: UN Risoe Approved 2003 2010

16. Where have CERs been generated? Source: UN Risoe

17. Changing host country fashions Source: UN Risoe

18. African CERs Approx 3.9% of total Asia Pacific CERs: ~19m vs. 2 200m Source: UN Risoe

28. Too complex? source: Bumpus (2010)

30. Thanks email: d.kuch@unsw.edu.au