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Market Mechanisms for Sustainable Development in a Post-2012 Climate Regime: Implications for the Development Dividend

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Market Mechanisms for Sustainable Development in a Post-2012 Climate Regime: Implications for the Development Dividend

There is broad consensus in the international talks on a post-2012 climate change regime on the need for some perpetuation of the CDM—a market mechanism for sustainable development (MMSD). Regime options under discussion will impact on the "development dividend" of a post-2012 MMSD, affecting quality (sustainable development), quantity (volume of CERs) and regional distribution. This paper examines four regime options—increasing the scope of the CDM to include additional sectors, differentiation of developing country eligibility, expanding the CDM, and a fund-based mechanism—and their potential impacts on the three elements of the development dividend.

This paper appears in A Reformed CDM - Including New Mechanisms for Sustainable Development, published by UNEP Risø Centre as part of their Capacity Development for CDM (CD4CDM) Project.

The full publication is available for download.