Explain Clean development mechanism (CDM).
Clean Development Mechanism (CDM) is one of the Flexible Mechanisms defined in the Kyoto Protocol (IPCC, 2007) that provides for emissions reduction projects which generate Certified Emission Reduction units (CERs) which may be traded in emissions trading schemes.
The purpose of the CDM is to promote clean development in developing countries.
The clean development mechanism was designed to meet a dual objective
- To help developed countries fulfil their commitments to reduce emissions and to assist developing countries in achieving sustainable development.
- CDM projects earn tradable, saleable certified emission reduction (CER) credits that can be used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol.
- The CDM addresses the second objective by allowing the developed countries to meet part of their emission reduction by commitments under the Kyoto Protocol by buying Certified Emission Reduction units from CDM emission reduction projects in developing countries.
- Benefits of CDM projects include investment in climate change mitigation projects in developing countries, transfer or diffusion of technology in the host countries, as well as improvement in the livelihood of communities through the creation of employment or increased economic activity.
- The CDM is one of the "project-based” mechanisms, which is designed to promote projects that reduce emissions. The CDM is based on the idea of emission reduction production". These reductions are "produced" and then subtracted against a hypothetical "baseline" of emissions. The baseline emissions are the emissions that are predicted to occur in the absence of a particular CDM project. CDM projects are "credited" against this baseline, in the sense that developing countries gain credit for producing these emission auto and then subtracted against a hypothetical baseline" of emissions. The baseline emissions are the emissions that are predicted to occur in the absence of a particular CDM project. CDM projects are credited" against this baseline, in the sense that developing countries gain credit for producing these emission cuts. Between 2001.
- Which was the first year in which CDM projects could be registered and 7 September 2012, the CDM issued 1 billion Certified Emission Reduction units. As of 1 June 2013, 57% of all CERs had been issued for projects based on destroying either HFC-23 (38%) or NGO (19%), Carbon capture and storage
- (CCS) was included in the CDM carbon offsetting scheme in December 2011. By 14 September 2012, 4626 projects had been registered by the CDM Executive Board as CDM projects. These projects are expected to result in the issue of 648,232,798 certified emissions reductions. By 14 September 2012, the CDM Board had issued 1 billion CERS, 60% of which originated from projects in China, India, the Republic of Korea, and Brazil were issued with 15%, 9% and 7% of the total CERs. The Himachal Pradesh Reforestation Project is claimed to be the world's largest CDM.
