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Sustainable Development Mechanism
[edit]Under Article 6 of the new Paris Agreement, Parties of the UNFCCC establish a mechanism "to contribute to the mitigation of greenhouse gases and support sustainable development". [1] Though there is no specific name for the mechanism as yet, many Parties and observers have informally coalesced around the name "Sustainable Development Mechanism" or "SDM"[2][3]. The SDM is considered to be the successor to the Clean Development Mechanism, a flexible mechanism under the Kyoto Protocol, by which parties could collaboratively pursue emissions reductions for their Intended Nationally Determined Contributions. The Sustainable Development Mechanism, or Article 6, paragraphs 6.4-6.7 of the Paris Agreement[4], lays the framework for the future of the Clean Development Mechanism post-Kyoto (in 2020).
In its basic aim, the SDM will largely resemble the Clean Development Mechanism, with the dual mission to 1. contribute to global GHG emissions reductions and 2. support sustainable development.[4] The structure and the processes governing the SDM are not yet determined, certain similarities and differences from the Clean Development Mechanism can already be seen. Notably, the SDM, unlike the Clean Development Mechanism, will be available to all parties as opposed to only Annex-1 parties, making it much wider in scope.[5] Additionally, the SDM will
Since the Kyoto Protocol went into force, the Clean Development Mechanism has been criticized for failing to produce neither meaningful emissions reductions nor sustainable development benefits in most instances.[6] It has also suffered from the low price of Certified Emissions Reductions (CERs), creating less demand for projects. These criticisms have motivated the recommendations of various stakeholders, who have provided through working groups and reports, new elements they hope to see in SDM that will bolster its success. The specifics of the governance structure, project proposal modalities, and overall design are expected to come during the next Conference of the Parties in Marrakesh.
Contents
[edit]- Background
- History of UNFCCC
- Clean Development Mechanism
- The Brazilian Submission
- Overall Strucure
- Carbon Offset Programs
- Carbon Markets
- Sustainable Development
- Purpose
- Differences from the Clean Development Mechanism
- Criticisms
- Prospects for Future Determinations
- ^ 1. United Nations / Framework Convention on Climate Change (2015) Adoption of the Paris Agreement, 21st Conference of the Parties, Paris: United Nations
- ^ "The Carbon Markets of Tomorrow: Taking Shape Today". Ecosystem Marketplace. Retrieved 2016-10-24.
- ^ Motta, Gabriele (May 18, 2016). "Market Mechanisms: SDM is the new black!". CliM'Blog. Retrieved Oct 23, 2016.
- ^ a b 4. Marcu, Andrei. "Carbon Market Provisions in the Paris Agreement (Article 6)." Center for European Policy Studies (2016): n. pag. Web. 9 Oct. 2016.
- ^ 5. Recommendations for Article 6 of the Paris Agreement." Carbon Market Watch. Carbon Market Watch, 19 May 2016. Web. 10 Oct. 2016.
- ^ 1. Böhm, Steffen. Upsetting the offset: the political economy of carbon markets. London: MayFlyBooks, 2009., 2009.