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CDM
- 2. KYOTO POTOCOL • The industrial revolution in the 19th century saw large scale use of fossil fuels which have contributed to the rise in greenhouse gases (GHG), resulting in global warming and climate change all over the world. • To tackle the challenges posed by global warming and climate change, the United Nations Framework Convention on Climate change (UNFCC) initiated the framing of a protocol during the climate change meeting held at Kyoto, Japan in the year 1997
- 3. KYOTO POTOCOL • Later this came to be known as Kyoto Protocol and this was seen as the first international step towards global greenhouse gas emission reduction. • Kyoto protocol is a legally binding international agreement which was adopted on 11th Dec 1997 and came into force on 16th Feb 2005. .
- 4. CLEAN DEVELOPMENT MECHANISM • Under Kyoto Protocol, nations/countries were classified as – Annex I countries (highly industrialised and developed countries) and – Non – Annex I countries (developing countries) The aim is to achieve quantified reductions in GHG emissions. The reasons for putting this GHG reduction responsibility on developed nation was because, these countries have emitted the greatest quantity of GHG in the past (due to industrial revolution). Under this protocol, the highly industrialised countries are required to reduce overall GHG (of six GHG namely CO2, CH4, N2O, hydrofluoro carbons, perfluorocarbons and Sulphur hexafluoride) emissions by atleast 5.2% as compared to 1990 level during the period 2008-2012. This period 2008 -2012 is known as first commitment period.
- 5. CLEAN DEVELOPMENT MECHANISM • As per this protocol, the Non-Annex I countries had legally no GHG reduction targets, but they also are expected to reduce GHG gas emissions. • The Kyoto Protocol provided three flexible mechanisms known as Kyoto mechanisms for the Annex I countries to reach their GHG reduction targets and the same are given below: • 1 .International Emission targets (IET) – known as Carbon market. • 2. Clean Development Mechanism (CDM) • 3. Joint Implementation (JI) • CDM and JI are known as project – based mechanism which generate GHG emission reduction projects.
- 6. Pressure to reduce CO2 emissions The USA has the highest per capita emissions of carbon but China and India and other Asian countries have huge populations – putting increased pressure on carbon emissions
- 7. CLEAN DEVELOPMENT MECHANISM • CDM is one flexible mechanism defined in article 12 of Kyoto Protocol. • Under this flexible mechanism, Annex I countries are allowed to invest in emission reduction projects in developing countries. • The main purpose of CDM are as follows: • To help Non-Annex I nations achieve Sustainable development and to assist Annex I countries in complying their emission reduction commitments. • Thus CDM generate Certified Emission Reduction (CER) unit or Carbon Credit for the Annex I countries. • One CER is the unit related to the reduction of one ton of CO2 or its equivalent GHG. • The CDM Executive Board (CDMEB) controls and monitors the implementation of CDM. • CERs generated by CDM Projects is given by CDMEB.
- 8. CLEAN DEVELOPMENT MECHANISM • Afforestration programmes , Clean technologies, renewable energy sector, sustainable transport, sustainable agriculture are some of the major areas where CDM projects are common. • Ex. Suppose for a country A, GHG emission target or limit (cap) is 200 Units. But this country emits 250 units. That is 50 units in excess emission. So it has 50 Units debits in it’s pollution account. Therefore this country has to invest in GHG emission reduction projects namely afforestration programmes, renewable energy, sustainable transport, sustainable agriculture, Methane capture from landfills etc. in developing countries worth 250-200 = 50 units so that the country can meet its emission limit of cap .
- 9. The Clean Development Mechanism • CDM: allows industrialized countries to invest in projects that reduce emissions in developing countries - as an alternative to what would undoubtedly be more expensive emission reduction programmes in their own country.