UNFCCC releases report on the benefits of the Kyoto Protocol's clean development mechanism
UNFCCC releases report on the benefits of the Kyoto Protocol’s clean development mechanism
(Bonn, 20 November 2012) – The UNFCCC secretariat has released new research that shows the Kyoto Protocol’s clean development mechanism (CDM) has spurred billions of dollars of investment in projects that curb greenhouse gases and contribute to sustainable development. The report, titled Benefits of the Clean Development Mechanism 2012, answers in the affirmative, with numbers and analysis on the questions: Is the CDM fulfilling its design objectives and is it providing other benefits along the way for developing countries.
The study examined roughly 4,000 CDM project activities with respect to their contributions to sustainable development, technology transfer and regional distribution. The report also includes revised estimates of finance and costs for various types of projects, and new estimates of savings and revenue due to the use of the certified emission reductions (CERs) produced by CDM projects.
- USD 215.4 billion investment in CDM projects spurred by the end of 2012 in developing countries.
- USD 21.5–43 billion estimated foreign investment as a result of CDM projects to date.
- USD 3.6 billion estimated compliance savings to Annex I Parties under the Kyoto Protocol.
- Top 5 technology and “know-how” suppliers for CDM projects are Germany, USA, Denmark, Japan and China; the CDM helps generate and support green growth programmes globally.
- 110,000 megawatts of new renewable energy capacity from CDM projects.
- The CDM has effectively designed a set of indicators for reporting on sustainable development in host countries.
- CDM facilitates the transfer of technology and knowledge to developing countries.
- CDM projects make more efficient use of capital invested: 15% (solar photovoltaic) to 50% (geothermal and solar thermal power) less capital intensive than non-CDM projects in developed countries.
About the CDM:
The clean development mechanism allows emission-reduction projects in developing countries to earn certified emission reductions (CERs), each equivalent to one tonne of CO2. CERs can be traded and sold, and used by industrialized countries to meet emission reduction targets under the Kyoto Protocol. There are more than 5,000 registered CDM projects in 81 developing countries. To date, more than one billion CERs have been issued.
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