Improving the Clean Development Mechanism Post-2012
The Clean Development Mechanism (CDM) should remain in place beyond 2012 and be improved to facilitate more meaningful participation by developing countries in climate mitigation efforts. This is the conclusion reached in an article written by, inter alia, Michael Mehling, President of Ecologic Institute Washington.
The authors assess the future prospects of the CDM from the perspective of a developing country, drawing on Vietnam as a case study. They argue that continuation of the mechanism remains an effective way to reduce greenhouse gas emissions.
An analysis of Vietnam’s current climate policy and its position regarding the shape of a future international climate regime both suggest that the CDM should be retained and improved for more flexible mitigation options post-2012. It can be reasonably assumed that developing countries will exert pressure in upcoming negotiations to extend the CDM and enhance its operation.
Finally, the article provides eight proposals to reform the CDM and increase its usefulness in a future international climate change framework. These range from streamlining and simplifying the CDM project cycle to extending it to include additional project categories over improving accessibility for developing countries through differentiation and capacity.
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