In 2012, the value of global carbon markets fell by 35%, from €96 billion to €62 billion. The average global carbon price fell by 49% to €5.82 per tonne in 2012, down from €11.45/t in 2011 and €13.09/t in 2010.
CDM
There are 35 posts tagged CDM (this is page 2 of 3).
Down the rabbit hole: REDD in the CDM?
At the end of last week, the number of credits issued under the Clean Development Mechanism reached one billion. “This exciting milestone is a testament to the expanding use of the CDM,”, according to Christiana Figueres, the UNFCCC’s Executive Secretary.
Another reason why a REDD carbon trading mechanism does not add up
Yesterday, ABN interviewed the Chair of the Clean Development Mechanism Executive Board, Martin Hession. The interview included a very interesting question, which is very relevant to REDD and whether REDD is to be financed by carbon trading.
What’s wrong with forest carbon finance? The Green Belt Movement lists the problems
Last week, at a side event in Durban, the Green Belt Movement presented what they have learned so far about forest carbon finance. A paper released at the side event explains the problems with relying on carbon trading to finance forest projects, with important lessons for REDD.
CDM does not reduce emissions. Leaving fossil fuels in the ground does
Last month, I took part in a meeting in Bangkok about carbon markets in Southeast Asia. Much of the discussion during the meeting involved the complexities and details of the Clean Development Mechansim, but the two points in the headline came across clearly.
Why Brazil’s ridiculous “Forests in exhaustion” proposal must be rejected from the Clean Development Mechanism
Forests in exhaustion is one of the more absurd proposals to emerge from the UN negotiations on climate change. The proposal came from Brazil during 2008 and it was discussed during the Conference of Parties to the Kyoto Protocol held in Poznan in December 2008. It amounts to nothing more than a subsidy for industrial tree plantations.
Can financial markets solve the climate crisis?
The headline is the title of a new report by the Italian NGO Campagna per la riforma della Banca Mondiale (CRBM) questions the role of the World Bank in financing responses to climate change. It’s a funny question to ask, particularly given the current state of the global economy (which, just in case you’ve not noticed, hasn’t recovered from a massive meltdown in 2008 – a result of massive deception in the financial markets).
“Forests in exhaustion” – An ECA guide for the perplexed
Of all the topics under discussion at Cancún, perhaps the oddest is a proposal from Brazil to include something called “forests in exhaustion” in the clean development mechanism. In short, it is a subsidy to the plantations industry either to re-establish plantations or to clear forests and establish new plantations.
Forest destroyer Oji Paper to carry out REDD feasibility study in Laos
In 2005, a Japanese company called Oji Paper took over a project to plant 50,000 hectares of mainly eucalyptus plantations in central Laos. The following year, as part of his research in Laos, a Canadian researcher took a series of photographs of forests cleared by Oji’s bulldozers. Now, Oji Paper wants to get REDD funding for its plantations in Laos.
Via Campesina rejects REDD and carbon trading
Vía Campesina is an international movement of peasants, small- and medium-sized producers, landless, rural women, indigenous people, rural youth and agricultural workers. It is a coalition of around 150 organisations, with an estimated 300 million members. Vía Campesina recently put out a statement about COP-16 in Cancún.
Guest Post: LULUCF, loopholes and REDD
LULUCF (land-use, land use change and forestry) became a hot topic at the Bonn meeting in June 2010, when it became clear that rich countries were attempting to use LULUCF to “hide increased emissions while trying somehow to create the illusion they are stopping catastrophic climate change,” as CAN International put it.
Forests, Carbon Markets and Hot Air: Why the Carbon Stored in Forests Should not be Traded
“If you wondered whether capitalism could ever produce the perfect weapon of its own destruction, try this heady mix of carbon fuels, the trade in financial derivatives, and more than a dash of neo-colonialism, and boom!”
“Forests in exhaustion”: a guide
The first thing that you need to know about “forests in exhaustion” is that they are not forests. According to the Clean Development Mechanism, the photograph on the left is a forest. All of it.
How a forestry offset project in Guatemala allowed emissions in the USA to increase
In 1988, Applied Energy Services (AES) was constructing a 183 MW coal-fired power plant in Connecticut. AES hired World Resources Institute to find a forestry project to “offset” the 14.1 million tons of carbon that would be emitted over the power plant’s 40 year life. The following year, AES signed an agreement with the NGO CARE to fund an ongoing agroforestry project in Guatemala.
Carbon Regulatory Offset Committee launched
Yesterday Greenpeace launched a spoof website: Carbon Regulatory Offset Committee (C.R.O.C.). C.R.O.C.’s philosophy is simple: “do something good for the environment, then do something bad to it!” The timing is perfect.