by Surya Karki
According to Annual Report of the Executive Board of the Clean Development Mechanism (CDM) to the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol, it has come through another difficult year. The main challenge facing the CDM remains the low level of demand for the certified emission reductions produced by CDM registered project activities and programmes of activities, due ultimately to Parties’ level of ambition to reduce greenhouse gas emissions. And as there wasn’t a mechanism to address the overflow and low demand of carbon credits, the overwhelming supply of CER units has driven the demand and carbon prices down.
The report also states that the number of CDM projects carried out has dropped drastically in comparison to 2005 levels. Since its establishment, the CDM has 7300 projects registered in 94 countries, making it the only mechanism to have implemented projects in several countries. Among the 7300 CDM projects, many have been implemented in countries that already attract the lion’s share of foreign direct investment (FDI), like China and India among others.
While the “C” in CDM stands for “Clean,” the definition of this word is so vague that even “clean coal” projects can be part of it. The astonishing fact is that most CDM credits are made up of “clean coal” project credits. Thus, through this mechanism there is no actual CO2 emission reduction. The “reduction” in CO2 gases from CDM projects, which are counted as credits towards mitigation commitment for the implementing country, is a demonstration of false mitigation commitments by Annex I parties. Read more…
by Surya Karki
Rajendra K Pachauri [the chairperson of the Intergovernmental Panel on Climate Change (IPCC)] in his opening statement at COP 19 said, “it is extremely likely, about 95%, that humans are causing climate change.” So the question is, are we going to wait for the remaining 5%, to take climate change seriously? Or do the climate negotiators need more disasters like typhoon haiyan to prove the urgency to agree on a just climate deal? According to Mr. Pachauri himself, the impacts of climate change are going to be visible more and more in the future, and suggests that every youth in the world should fight to protect that future. Read more…
by Surya Karki and Nathan Thanki
Intervention delivered by Surya Karki on behalf of Youth NGOs;
Thank you Mr. President.
My name is Surya, and am speaking on behalf of the youth constituencies. I am from Nepal where I have seen firsthand the impacts of climate change. Droughts are impacting agriculture, the main source of income for people in my village, and people are going hungry as a result. Droughts are drying up sources of drinking water and people must build rainwater catchment systems. Read more…
Following Christiana Figueres reply last week, we decided to post her this reply.
Response to Christiana
by Surya Karki
The Adaptation Fund originated as part of the overall Bonn Agreements on the Implementation of the Buenos Aires Plan of Action from the 6th COP with an objective to ‘reduce vulnerability and increase adaptive capacity to respond to the impacts of climate change, including variability at the local and national levels.’
Following that, paragraph 15 of decision 17/CP.7 noted that a 2 percent share of the proceeds from Clean Development Mechanism (CDM) project activities would be used to finance the cost of adaptation. But given that the adaptation fund is financed through a share of proceeds from the CDM, activities related to the fund could not take place until the Kyoto Protocol came into force in 2005. Basically the AF was established in 2001, came into force in 2005, but didn’t start its functions until 2009 when the Adaptation Fund Board was established.
The fund is one of three financial mechanisms that supports adaptation in developing countries. It has many innovative features; it was established as a fund that would not wholly depend on financial contributions from developed nations, 69% of the seats on the AF Board are held by developing country governments, and the AF has been allowing accredited institutions based in developing countries and regional institutions to access funding directly.