Distribution of CDM projects by country
As Grace, Luan and I discovered as we researched Flexibility Mechanisms, the number of Clean Development Mechanism (CDM) projects in Africa is dismally small when compared the number of projects in countries like China, India and Brazil. However, it seems like this trend may be changing. The UN just released a report that suggests the number of CDM projects in Africa is increasing; 112 projects are at ‘validation, requesting registration of registered.” Those numbers are up from 78 projects in 2008, and only 2 projects in 2004. This trend illuminates the important role African governments will play in promoting flexibility mechanisms, especially CDM, at the Copenhagen Negotiations. Experts also suggest however, that governments must support, “small market mechanisms in order to manage some of the special kinds of risks that might be holding back such projects in Africa.”
Country Risk Coverage, or insurance against civil unrest or a breach of contract, is playing a more and more important role in CDM implementation. Currently these risks often deter investments. Another reason for the lack of CDM project in Africa, is that developed nations don’t see investments in small scale projects as lucrative. Investment in large projects represents larger emissions reductions. Programmatic CDM, in which many smaller projects are combined to create one large project is a solution to this problem, however, incentive to invest still presents a huge problem to the success of this project.
Also, here is a very interesting article on Nigeria’s position on Climate Change. The country sees great potential for flexibility mechanism in their future, especially CDM projects.
This article however, reiterates a troubling notion: a substantial deal will (most likely) not be made this December in Copenhagen.
Nigeria
“The United Nations Secretary-General, Ban Ki-moon, has severally urged both rich and poor countries, developed and developing nations alike, to join hands to ‘seal the deal’ on climate change, so that the world can be a safer place.
The message is that if there is no deal in Copenhagen, the world is doomed to a future of global warming that leads to rising seas, glacial melting, floods and agricultural productivity losses.
Analysts believe that despite all the attention given to this crisis in the last couple of years, a deal appears far from being on the table.”
Tags: China, Clean Development Mechanism, climate change, Danielle Hoffman, developing countries, Flexible Mechanisms, Grace Lange, India, Luan Nguyen
