Clean Development Mechanism Passes New Milestone
The 100th meeting of the UN CDM Executive Board, held earlier this year in Thailand, was a chance to reflect on the achievements of the CDM since its inception twenty years ago as part of the Kyoto Protocol.
The meeting’s findings have been published in a report which highlights the mechanism’s success in “… harnessing the entrepreneurial power of markets and the private sector to meet goals on sustainable development and climate change” said CDM Executive Board Chair Arthur Rolle.
Thanks to the incentive provided by the CDM, more than 8,100 climate projects and programmes in 111 developing countries were registered, receiving an investment of more than USD 300 billion, and achieving a reduction or avoidance of 2 billion tonnes of carbon dioxide.
As a longstanding partner to the UNFCCC, CTX is extremely proud of its role in bringing UN CERs to the global market through its exchange. This has enabled millions of tonnes of carbon emissions reductions, while benefitting millions of people through additional improvements in human health, green jobs, poverty reduction and other aspects of development.
Looking forward, the CDM Board have adopted a revised standard and procedure for the development, revision and update of standardized baselines. In doing so, the CDM will continue to lead the way in designing the robust standards and methodologies for quantifying and monitoring emission reduction projects. The mechanism remains a vital tool in the fight to keep our planet safe from the worst impacts of climate change.