CDM EB 75 Press Highlights - Board agrees 2-year plan to safeguard CDM

CDM EB 75 Press Highlights:  Board agrees two-year plan to improve and safeguard CDM

(Bonn, 4 October 2013) – The CDM Executive Board has agreed on a two-year plan designed to ensure that the clean development mechanism (CDM) remains an effective tool that countries and the private sector can use to mitigate climate change and contribute to sustainable development worldwide.

The CDM has been a success, with more than 7,300 projects registered in 91 countries. However, the mechanism now faces challenges due to low demand for the certified emission reductions (CERs) produced by its projects, due ultimately to countries’ level of ambition to reduce greenhouse gas emissions.

“The Board will navigate an improved CDM to that point in the future when countries take on the level of ambition that science tells us is needed,” said CDM Executive Board Chair Peer Stiansen. “ In the meantime, we’ll continue to improve the CDM and position it for expanded use.”

The strategy aims to increase the efficiency and effectiveness of the CDM validation and verification standards and procedures. It also aims to facilitate the acceptance of CERs for compliance and voluntary purposes, including by companies, agencies and entities that want to reduce their impact on the climate.

The Board at its 75th meeting also finalized its annual report, for consideration by Parties to Kyoto Protocol when they meet in Warsaw, Poland, in November. The report shows that the Board has healthy financial reserves that combined with proper planning and implementation can see the CDM through many years.

“With sound, prudent planning and management, we can ensure that countries have an even better, more efficient, simpler to use CDM with assured environmental integrity, when countries are ready to step up their level of effort,” said Mr. Stiansen.

Last year Parties to the Kyoto Protocol agreed a second commitment period, but with fewer countries involved than in the initial period. However, countries also agreed to negotiate a comprehensive agreement, including all countries, to be agreed by 2015 and implemented by 2020.

For a full report of the meeting see http://cdm.unfccc.int/EB/index.html.
For further information contact David Abbass, dabbass(at)unfccc.int, Public Information Officer, UNFCCC

About the CDM
The CDM allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. CERs can be traded and sold, and used by industrialized countries to meet a part of their targets under the Protocol. The CDM assists countries in achieving sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission targets.