Implementation of the Clean Development Mechanism in Asia and the Pacific
This publication provides a synoptic overview of the various issues relating to climate change abatement initiatives with specific reference to the issues, challenges and opportunities for the effective implementation of the Clean Development Mechanism (CDM) in countries of Asia and the Pacific.
The Clean Development Mechanism (CDM), one of the three “flexibility mechanisms” pronounced in the Kyoto Protocol, has the potential to garner additional sources of financing sustainable development projects in developing countries along with the global reduction of GHG emissions.
The mechanism is an economic instrument for inducing initiatives to meet the challenges faced by the impending threat of climate change. It is a mechanism for promoting technology transfer and investment from developed countries to the developing countries for projects to reduce the emissions of Greenhouse Gases (GHGs).
The CDM allows the governments or private parties of developed countries to make investment for emission reduction projects in developing countries and, in turn, get the benefit in terms of ‘Certified Emission Reduction (CER)’ which could be credited against their national emission reduction targets. Thus, CDM is intended to serve the dual purpose of assisting the developing countries in their pursuits for sustainable development as well as providing an opportunity to the developed countries for contributing towards reduction of global concentrations of greenhouse gases at lesser cost.
This paper is intended to provide a ready reference to the development that has so far taken place, the modalities and procedures for participation in the CDM and the issues which need to be addressed for tapping its potential.
It is hoped that this publication will help decision makers, policy analysts and others concerned with the CDM process to ponder over the perceived barriers and opportunities of CDM which may open up ways and means for a ‘collective development mechanism’ through cooperation at various levels.