World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


Kyoto mechanism to boost green investment

Way cleared for Kyoto mechanism to boost green investment in developing countries – CDM Executive Board

Bonn, 27 June 2007 – The Kyoto Protocol’s clean development mechanism (CDM) is set to scale up, in reach, scope and effectiveness, as a result of new procedures and guidance for programmatic CDM adopted by the mechanism’s Executive Board.

“Until now, we’ve registered single projects, in single locations. With the new procedures and guidance, developed in response to requests from Kyoto Protocol countries, the way is now clear for project developers to submit for registration many projects, covering a wide area, under a single ‘programme’ umbrella,” said Hans Jürgen Stehr, chair of the Executive Board of the CDM.

Under the CDM, projects in developing countries can receive saleable certified emission reduction credits (CERs) by reducing greenhouse gas emissions. These credits can be used by industrialized countries to cover a portion their emission-reduction commitments under the Kyoto Protocol.

"The CDM has met with strong demand and market approval in both developed and developing countries. The mechanism has shown that it can reduce emissions and stimulate green investment. Now it is showing that it can respond to market needs and the mounting challenges posed by climate change," Mr. Stehr said.

If one were to imagine a project designed to replace a diesel-powered generator with a climate-friendly alternative at a single site, a programme of activities might cover an entire city, or entire state. This is expected to give the CDM regulatory process greatly enhanced efficiency, increase CDM’s applicability, increase the volume of CERs and help the mechanism come closer to achieving its vast potential.

Yvo de Boer, Executive Secretary of the United Nations Framework Convention on Climate Change applauded this progress, especially for its potential benefits to smaller and lesser developed countries.

"Programmatic CDM is expected to enormously enhance the chances of small and poor countries getting access to the CDM. In such countries, single projects are often too small to be commercially attractive. As a consequence, many small and poor countries are not benefiting from the CDM at the moment. The programmatic approach could dramatically change this," said Mr. de Boer, the United Nation’s top climate change official.

"The Board has done its job, now it’s up to project developers to explore the opportunities created by the new procedures and to then come up with workable proposals," Mr. de Boer said.

To date, the Executive Board has registered 715 projects in 47 developing countries. These projects, and the approximately 900 others in the registration pipeline are expected to generate 1.9 billion CERs, each equivalent to one tonne of carbon dioxide, by the end of the first commitment period of the Kyoto Protocol in 2012.


© Scoop Media

World Headlines


OECD: Final Quarter Of 2020 Shows Continued Recovery In G20 International Merchandise Trade

G20 international merchandise trade continued to rebound in the fourth quarter of 2020 ( exports up 7.2% and imports up 6.8%), following the sharp falls seen in the first half of 2020, as lockdown measures affected trade globally. Although growth ... More>>

UN Report: Civilian Casualties Surged After Peace Talks Began In Afghanistan

Monitoring by the UN Assistance Mission in Afghanistan, UNAMA, and the UN Human Rights Office has revealed that despite a drop in civilians killed and injured overall in 2020 there was a rise in civilian casualties following the start of peace negotiations ... More>>

Climate: UN Chief Lauds ‘day Of Hope’ As US Officially Rejoins Paris Climate Accord

The official return of the United States to the Paris Agreement on Climate Change represents good news for the country and the world, UN Secretary-General António Guterres said on Friday during a virtual event to mark the occasion. The US, under ... More>>

Focus On: UN SDGs

2021: Critical Year To ‘reset Our Relationship With Nature’ – UN Chief

During this time of “crisis and fragility”, the UN chief told the United Nations Environment Assembly on Monday that human well-being and prosperity can be vastly improved by prioritizing nature-based solutions. Painting a picture of the turmoil ... More>>

Paris Agreement: UN Secretary-General António Guterres To Mark U.S. Reentry With Envoy For Climate John Kerry

Watch live at UN Secretary-General António Guterres will join U.S. Special Presidential Envoy for Climate John F. Kerry at an event marking the United States’ reentry into the Paris Agreement this Friday. The discussion with the Secretary-General ... More>>

WeBeliev: Scoop In Conversation With Abhishek Sinha, Founder Of WeBeliev, An NZ Crowdfunding Platform

WeBeliev supports 17 SDGs, launching sector specific campaigns every month Q. What is WeBeliev and why did you start it? A. WeBeliev is a Singapore-registered crowdfunding platform aimed at fundraising for all the 17 Sustainable Development Goals (SDGs) ... More>>