by: Derwin Nantes
The Article 12 of the Kyoto Protocol defines the Clean Development Mechanism. It basically allows a country with an emission-reduction or emission-limitation commitment under the Kyoto Protocol to implement an emission-reduction project in developing countries. By doing so, these can earn therm saleable certified emission reduction credits (CER) credits, that equates to a tonne of CO2, which can be counted towards meeting Kyoto targets.
Many views this mechanism as a trailblazer. Being the first global, environmental investment and credit scheme of its kind, providing a uniform emission offset intrument, the CERs.
This mechanism gives Industrialized countries which a part of the Protocol a flexibility in meeting their target emissions.
A country with intentions of launching a CDM project must provide emission reductions that would be beneficial to what would have happened. It would require huge amounts of paper works and processing and registration before getting an approval of the National Authority. The funds that will be used should not diverted away from official development assistance.
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