Wednesday, November 30, 2011

Delegates issues with the CDM #COP17

UNFCCC Executive Secretary Christiana Figueres and President of COP 17/CMP 7 Minister Maite Nkoana-Mashabane
30 November 2011
Tashneem Abrahams

Delegates have voiced their concern over the continuity of a second commitment agreement regarding the Kyoto Protocol.

At a conference held earlier this morning countries expressed how the Clean Development Mechanism makes no sense without the binding agreement of a second period.

CDM allows emission-reduction projects in developing countries to earn certified credits, each equivalent to one tonne of CO2. These credits can be traded and sold, and used by industrialized countries to meet part of their emission reduction targets under the Kyoto Protocol.

The delegation of Ecuador highlighted their fear in the uncertainty of a new Kyoto Protocol since numerous countries have expressed their doubt in signing the new treaty.

Venezuela added that the CDM makes no sense and has no purpose as it was created to help developed countries to fulfil their obligation of reducing CO2, but still increases the greenhouse gases. #COP17

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