Tag Archive | "CDM"

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Portraits: Consultancy Firm Gives Advice on CDM, JI

Posted on 10 December 2009 by editor

Irma Lubrecht runs the IR-ON consultancy firm in the Netherlands. Credit: Claudia Ciobanu/IPS

Irma Lubrecht runs the IR-ON consultancy firm in the Netherlands. Credit: Claudia Ciobanu/IPS

Irma Lubrecht runs her own consultancy firm, IR-ON (The Netherlands), giving advice on climate change to certification companies and private developers.

“I have been in the climate change business for 10 years, I am in Copenhagen to see how the carbon market is developing,” she told IPS.

“I just want to see what is the future of Kyoto, and if there is a future, because I am pretty sure the project-based mechanisms will not continue for a long time.”

Lubrecht advises about the feasibility of Clean Development Mechanism (CDM) projects and gives trainings on CDM and JI (Joint Implementation), two of the main mechanisms established by the Kyoto Protocol through which governments and businesses in countries which have to reduce emissions can invest in emission-reduction projects in developing countries and gain carbon credits in return.

“The way it is going now, CDM cannot continue,” she thinks. “It is too small, it costs too much money and involves too many people. And the bureaucratic mechanism behind it produces too many delays.”

“When CDM was born, we thought it was going to save the world. Now, there is so much bias, so much opposition against it,” Lubrecht thinks.

“In my opinion, it is more efficient to have national emission targets which become stricter and stricter every year and also national emissions trading schemes. And I am very much in favor of personal limits to emitting GhG: you get a personal card at the beginning of the year and each time you put gas in your car or book a trip to Turkey, you get charged. People have to understand that we each have to be energy efficient.”

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CLIMATE CHANGE: World Bank Praises Carbon Market

Posted on 08 December 2009 by editor


World Bank panel. Credit: Raúl Pierri/IPS.

World Bank panel. Credit: Ana Libisch/IPS.

Raúl Pierri

COPENHAGEN (IPS/Terraviva) The World Bank proudly defended the global carbon market in the Danish capital Tuesday for its “contribution” to efforts to mitigate climate change, in spite of criticism from civil society.

The multilateral lender presented its publication titled “10 Years of Experience in Carbon Finance: Insights from working with carbon markets for development and global greenhouse gas mitigation”, at the 15th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 15), running Dec. 7-18 in Copenhagen.

The study assesses the World Bank’s experience of working with the Kyoto Protocol’s flexibility mechanisms, like the Clean Development Mechanism (CDM) and Joint Implementation (JI).

JI is a system that allows industrialised countries to fulfil part of their obligatory greenhouse gas emissions reductions by paying for projects that reduce pollution in other nations of the North.

In practice, this means building installations in the countries of Eastern Europe and the former Soviet Union, financed by Western European and North American countries.

Meanwhile, the CDM allows rich nations to compensate part of their greenhouse gas emissions by financing projects that reduce emissions in the developing South.

The rich country that finances the project can acquire carbon credits, equivalent to the emissions savings made in the developing country, and these count towards its own binding emissions reductions. These carbon credits are, additionally, tradeable: they can be bought and sold on the carbon market.

The World Bank sees the carbon market as a positive development, as it estimates the countries of the South will need between 75 billion and 100 billion dollars a year, from now to 2050, to cope with the effects of global warming.

World Bank carbon finance specialist Martina Bosi reminded a press conference in Copenhagen Tuesday that the Bank created the 160 million dollar Prototype Carbon Fund in 2000, five years before the Kyoto Protocol went into effect.

Today, the World Bank manages several funds worth 2.5 billion dollars, the main beneficiaries of which are China, India, Brazil, Mexico and Colombia.

Among the most important funds are the BioCarbon Fund, which focuses on forestry and land-use projects, and the Community Development Carbon Fund, which focuses on projects in least developed countries, “that have received strong social co-benefits in addition to reducing greenhouse gas emissions.”

According to the report presented Tuesday, 26 percent of the projects financed by these World Bank funds were based in Latin America and the Caribbean, 21 percent in Asia, a further 21 percent in East Africa, 18 percent in Europe and 13 percent in Southeast Asia.

Bosi stressed that a large proportion of the funds for World Bank projects under the CDM are from the private sector, and that market mechanisms are an important tool for including private capital in climate mitigation efforts.

Private capital has provided 49 percent of the resources for the projects so far. The carbon markets have contributed 21 percent, public foreign investment 17 percent and local public funding 13 percent.

Non-governmental organisations are critical of the CDM because they regard it as a “corrupt” system that is “cheap” for the countries of the North, as it allows industrialised countries to avoid real measures to reduce their domestic greenhouse gas emissions, while favouring transnational corporations.

Friends of the Earth said that the CDM should be abolished because it does not promote the structural changes needed to bring about a sustainable economy, and complained that “many projects in the CDM pipeline have severe negative social and environmental impacts.”

In a communiqué released at the Copenhagen conference, Friends of the Earth demanded rich countries “pledge to cut domestic emissions by at least 40 per cent (compared to 1990 levels) by 2020, without offsetting (using the CDM) or carbon trading.”

According to the organisation, “most of these projects do not actually reduce emissions,” and have catastrophic consequences for the environment and society in the developing South.

It also demands that the countries of the North “meet their obligations for financial transfers to developing countries for mitigation and adaptation,” without cutting development aid. These financial transfers should be administered by the United Nations, it said.

Other external financing, like the funds managed by the World Bank, should also not count towards the fulfilment of these obligations, it said.

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Beware of Carbon Trading Trap – Activists

Posted on 08 December 2009 by editor

Activists with poster depicting clock ticking on climate change. Credit: Claudia Ciobanu/IPS

Activists with poster depicting clock ticking on climate change. Credit: Claudia Ciobanu/IPS

By Claudia Ciobanu

COPENHAGEN (IPS/TerraViva) – As the climate change summit in the Danish capital moves into a second day, environmental groups warn that by pushing carbon offsetting and trade, governments of developed countries are bypassing their responsibility to significantly reduce domestic emissions and  provide aid to developing countries. Continue Reading

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