Offsetting Principles and The CDM, JI Basics
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1) The document discusses the principles of offsetting and the Clean Development Mechanism (CDM) and Joint Implementation (JI) under the Kyoto Protocol. 2) It provides examples of how emission trading schemes work using a cap and offset system. Offsets are generated by carbon reduction projects in developed countries under JI and developing countries under CDM. 3) Statistics are given on CDM projects worldwide, showing the majority are from China and focus on reducing HFCs, PFCs and N2O emissions. Over 9,000 CDM projects have been proposed with over 3,700 registered but not all have been issued carbon credits due to issues like the financial crisis.
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Offsetting Principles and The CDM, JI Basics
- 1. Offsetting Principles and the CDM, JI BasicsLucas BelenkyACX Executive Climate Change and Carbon Trading Course November 12th2012
- 3. Gas Factor Example Source Carbon Dioxide (CO2) 1 Combustion Methane (CH4) 21-24 Waste NitrousOxide (NO2) 298 Fertilizer Hydro Fluorocarbons(HFC) 4,000-12,000 Refrigerant Production SulfurHexafluoride (SH6) 16,000 Transmission Lines
- 4. What is a Carbon Credit? •Definition:Acarboncreditisagenerictermforanytradablecertificateorpermitrepresentingtherighttoemitonetonneofcarbondioxideorcarbondioxideequivalent(eCO2). •Bought,sold,traded,andhedgedasotherglobalcommodities. •Currencyoftheinternationalcarbonmarkets. •Considered“retired”or“cancelled”ifusedtocoveremissions
- 5. $25Billion
- 6. Example of an Emission Trading Scheme 800 tons Cap EU-ETS 1,200 tons 400 tons
- 7. The Principle of Offsets
- 8. 800 tonsCap EU-ETS1,200 tons 400 Credits Example of an Emission Trading Scheme (Offsets)
- 9. •Mechanism under the Kyoto Protocol •Promotes carbon reduction projects in developed countries •Project-based Mechanism •Guidelines for certifying offsets from annex I counties for compliance purposes The Joint Implementation (JI) Mechanism
- 10. •Mechanism under the Kyoto Protocol •Promotes Low Carbon Development and Technology transfer •Project-based Mechanism •Guidelines for certifying offsets from non-annex I counties for compliance purposes in Annex I countries = Certified Emission Reductions (CERs) The Clean Development Mechanism (CDM)
- 11. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Q1… Q3… Q1… Q3… Q1… Q3… Q1… Q3… Q1… Q3… Q1… Q3… Q1… Q3… Q1… Q3… Share of projects All CDM Projects in the Pipeline in Brazil + Mexico + India + Chinaas a fraction of all projectsMexico Brazil ChinaIndiaHFCs, PFCs & N2O reduction68% Renewables18% CH4 reduction & Cement & Coal mine/bed6% Supply-side EE4% Fuel switch3% Demand-side EE0% Afforestation & Reforestation0.0% Transport0% CERs issued in each sector Status of CDM projects Number At validation 3685 Request for registration 74 Request for review 27 Correction requested 3 Under review Total in the process of registration 104 Withdrawn 53 Rejected by EB 213 Validation negative by DOE 198 Validation terminated by DOE 1049 Registered, no issuance of CERs 2389 Registered. CER issued 1354 Total registered 3743 Total number of projects (incl. rejected & withdrawn) 9045 The CDM at a Glance
- 12. Financial Crisis Nuclear Disaster in JapanDouble Dip and Over-supply