Enhanced Financial Mechanisms for Post 2012 Mitigation
Despite the many calls to reform the CDM, its conceptual underpinnings are strong and it will most likely survive in the post-2012 climate regime. Some modifications may be considered in the short term to strengthen the effectiveness and transparen...
| Main Authors: | , |
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| Format: | Policy Research Working Paper |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090721082047 http://hdl.handle.net/10986/4200 |
| Summary: | Despite the many calls to reform the
CDM, its conceptual underpinnings are strong and it will
most likely survive in the post-2012 climate regime. Some
modifications may be considered in the short term to
strengthen the effectiveness and transparency of the
mechanism without modifying the Marrakesh Accords. In the
medium term substantially increased mitigation efforts in
developing countries may require a combination of three
possible financial mechanisms: the current activity-based
CDM albeit improved, a second market mechanism that would
seek to improve the long term emission trends of developing
countries by promoting broad based emission reduction
programs primarily in the private sector, and a third
financial mechanism outside of the market which would be an
incentive for the adoption of policy changes leading to a
low carbon path, but where emission reductions would not be
used as international offsets. |
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