Is the Clean Development Mechanism (CDM) letting the North off the hook for their carbon reduction obligations and whats in it for the South?
Industrialized countries have to implement domestic policies and measures to reduce green house gas emissions. These domestic measures have to generate the most significant part of the emission reductions used by an industrialized country to achieve its compliance targets according to the Kyoto Protocol, and emissions reductions earned through CDM and other market mechanisms can only be supplementary to these domestic actions. It is estimated that the cost to meet emission reduction commitments made under the Kyoto Protocol is in the order of billions of dollars. Given that they reduce cost of compliance, flexible mechanisms such as the Clean Development Mechanism are relevant to the long-term engagement of the global community to combat global climate change. For developing countries, the Clean Development Mechanism represents an opportunity to attract investments from the public and private sectors in climate-friendly technologies, and to contribute to the global combat on climate ch
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