Kyoto Protocol Clean Development Mechanism Begins
The Kyoto Protocol’s Clean Development Mechanism takes off: first CDM project registered
Bonn, 18 November 2004 – On the day when the crucial ratification for the entry into force of the Kyoto Protocol on 16 February 2005 has arrived, the first project of the Clean Development Mechanism (CDM) has been registered. The project will reduce emissions of methane from a landfill in the state of Rio de Janeiro, Brazil.
The registration of this project starts a new phase of the implementation of the CDM. This central feature for global collaboration on climate change in the Kyoto Protocol has now come alive. The CDM is an innovative mechanism that mobilizes private and public resources for mitigating climate change and, at the same time, promoting sustainable development.
The project is located in the state of Rio de Janeiro, Brazil. It aims to reduce greenhouse gas emissions from a landfill site by capturing methane to use it for generating electricity and will have direct health and environmental benefits for the local community of Nova Igacú. It is expected to reduce about 31,000 tonnes of methane per year which, in terms of global warming potential, is equivalent to a reduction of 670,000 tonnes of CO2. This project holds a large potential as a model for similar projects in other parts of Brazil and the whole world.
The CDM was established under the 1997 Kyoto Protocol as a way of promoting sustainable development while minimizing the costs of limiting greenhouse gas emissions: In return for investing in a CDM sustainable development project, companies will earn "certified emission reductions" that developed countries may use to meet their Kyoto commitments. It is supervised by an Executive Board which is responsible to the Conference of the Parties to the UNFCCC.
In order to qualify, a CDM project must deliver multiple benefits: credits for reducing GHG emissions to the investors and sustainable development to the developing country which hosts the project and contributes to stabilizing GHG concentrations in the atmosphere below dangerous levels. A successful CDM energy project can, for example, earn certified emission reductions (CERs) during a minimum of seven and a maximum of 21 years. By using CERs, industrialized countries and companies can comply with their Kyoto and/or national targets at costs below those commonly encountered for domestic projects. By being mutually beneficial, the CDM can break new ground in North-South collaboration for the global commons.
The project involves S.A. Paulista, EcoSecurities and the World Bank Netherlands Clean Development Facility (WB NCDF). It was validated by “DNV Certification UK”, one of the companies accredited by the CDM Executive Board.
Information on the pipeline of projects pursuing registration under the CDM can be found on the UNFCCC CDM web site.
For more information about the CDM, please consult http://unfccc.int/cdm or e-mail email@example.com