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Asia-Pacific Publications Catalogue 2011

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Implementation of the clean development mechanism in asia and the pacific

Author(s): Environment and Development Division (EDD)

Economic Sector(s): (1) Policies, planning and legislation

ESCAP Reference No.: ST/ESCAP/2292

Division/Office: Environment and Development

Published Date: 24 December 2003

Country: {Non-country Specific Publication}

Hard Copy Price: N/A

Change is the essence of evolution. But the change in recent years has been much faster and unforeseen, which is a matter of concern. Climate change and global warming attributed to emissions of greenhouse gases (GHGs) from human activities are a major threat to our survival and well-being. The United Nations Framework Convention on Climate Change (UNFCCC) mooted at the Earth Summit in 1992 is a landmark agreement of the global community to meet the challenge of climate change. In 1997, the Kyoto Protocol set the targets and time tables for the reduction of emissions to implement the Convention. GHG emissions are the product of complex dynamic systems dictated by socio-economic conditions and technological change. The Intergovernmental Panel on Climate Change (IPCC) has developed various scenarios to represent the driving forces and emissions based on available scientific knowledge. IPCC has been involved in analysis of technologies and measures for the abatement of GHG emissions in various sectors, including agriculture, energy, forestry, housing, industry, transport and waste management. These options and opportunities deserve serious consideration in the pursuit of sustainable development, even without the threat of climate change. 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. 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 CDM in countries of Asia and the Pacific. The publication 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.

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PREFACE

ABBREVIATIONS

I. INTRODUCING THE CLEAN DEVELOPMENT MECHANISM:

GENESIS AND RATIONALE

A. Objectives of the Mechanism

B. Background of the Mechanism

C. Intergovernmental Panel on Climate Change

D. United Nations Framework Convention on Climate Change

E. Kyoto Protocol

F. Emission reduction targets

G. Mechanisms for emission reduction

H. Rationale for the Mechanism

II. PARTICIPATION IN THE CLEAN DEVELOPMENT MECHANISM: MODALITIES AND PROCEDURES

A. CDM project cycle

B. Prerequisites for participation

C. Institutional structure

D. Financial modalities

E. Share of proceeds

F. Project approval and implementation procedures

III. ISSUES AND CHALLENGES

A. Market barriers

B. Sustainable development criteria

C. EIA criteria and stakeholder consultations

D. Baseline criteria

E. Additionality criteria

F. Project boundaries and leakage

G. Return on investment

H. Financial and investment climate

I. Transaction costs

J. Small projects

IV. OPPORTUNITIES FOR ASIA AND THE PACIFIC

A. New vistas

B. Candidate sectors for CDM projects

C. Capacity-building for the CDM: national and regional initiatives

D. Way forward: priority action points

Annexes

I. Format for the project design document

II. Climate-related projects through activities implemented jointly in the ESCAP region

Glossary

References

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