Heres’s the third in a series of background briefs from Fleishman-Hillard’s Brussels office on issues that delegates from around the world will grapple with at the Copenhagen Climate Conference in December. This brief focuses on reform of the Clean Development Mechanism, which will be negotiated in Copenhagen.
“The CDM is one of three flexible market-based mechanisms introduced under the Kyoto Protocol. This mechanism allows industrialized countries with emissions reduction targets to invest in carbon reduction projects in developing countries in order to get carbon credits, which can be used to meet their compliance obligations. The main rationale behind the CDM is to facilitate industrialized countries to meet their targets and encourage the private sector and developing countries to contribute to emissions reduction efforts.”
“The rationale for reform,” our Brussels colleagues note, “is based around three issues: governance, project integrity and the global distribution of investment.”
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