Delaying the solutions
The irony to all this is that the CDM may be dying, largely under the weight of its own uncertain future and a lack of demand for credits given the economic downturn in Europe. However, instead of putting political will and resources behind cutting our dependence on fossil fuels, reducing emissions in our own backyards, investing directly in truly clean energy projects, and helping the most vulnerable countries adapt to the impacts of climate change, wealthy countries are seeking other loopholes. For instance, New Zealand, the U.S., Japan and Australia want to create their own CDM-like mechanisms, which will likely run into the same problems that the CDM has experienced.
As for the policy dialogue, the CDM can only be salvaged now with a serious commitment to restructure the entire system. With additionality being near-impossible to prove, perhaps it should be eliminated entirely. After all, what the CDM needs now is a major overhaul, not a makeover.
- For an updated list, click here
- All CER data from the UNEP Risoe CDM Pipeline Database
- Read International Rivers and other civil society inputs to the CDM Policy Dialogue
- View the 2008 CDM Hydro Hall of Shame
- Read Failed Mechanism, International Rivers report exposing the flaws of the CDM
- Learn more about the CDM