Kyoto Protocol’s emission trading mechanisms could become redundant after 2020 | The Indian Express

Kyoto Protocol’s emission trading mechanisms could become redundant after 2020 | The Indian Express

Written by R. R. Rashmi |Updated: November 8, 2019 11:16:35 am

The writer is special secretary in the government of India and has been India’s climate negotiator. The views are personal.

Kyoto Protocol’s emission trading mechanisms could become redundant after 2020

he Clean Development Mechanism (CDM), a product of the Kyoto Protocol, is one such market instrument that can help industry as well as climate.

A globe with the national flags hangs in one of the pavilions at the UN Climate Conference in Bonn, Germany. Most developed countries are strongly opposed to permitting the carryover of CDM projects and their credits into the Paris Pact’s mechanisms. (Source: AP/Representational)

The next climate conference to be held in Madrid in December has the challenge of deciding how markets can be deployed in the service of climate. The Clean Development Mechanism (CDM), a product of the Kyoto Protocol, is one such market instrument that can help industry as well as climate. Alongwith China and Brazil, India is a leader in CDM since its inception in 2007. A number of small and medium projects in the field of energy efficiency and renewable energy, set up in India in the last two decades, owe their origin to the financing support available from CDM. Unfortunately, its future hangs in balance.