Its a win-win for CDM as COP19 ends in Warsaw,Poland.
By Charles Ogallo.
The 19th Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol came to an end in Warsaw City of Poland with a thumb up from delegates over Clean Development Mechanism.
This follows an agreement that Parties make greater use of the clean development mechanism -CDM to ensure the continued success of the mechanism beyond the first commitment period of the Kyoto Protocol with regard to its contribution to the achievement of the objective of the convention.
The over 2000 delegates expressed satisfaction with the success of the clean development mechanism in the first commitment period of the Kyoto Protocol, which to date has been responsible for over 7,300 project activities being registered in over 90 countries.
1,500 components project activities have also been included in over 230 programmes of activities registered in more than 60 countries where over 1.4 billion certified emission reductions being issued for an investment of over USD 215 billion.
Concerns were however raised over current price fluctuation in the global carbon market in regards to difficult market situation currently faced by participants in the clean development mechanism and the consequent loss of institutional capacity related to the mechanism, both of which are threatening the value of the clean development mechanism as a tool for Parties to collaborate in achieving the objective of the Convention.
The Executive Board of the clean development mechanism was significantly commended for the substantial work undertaken over the past year which led to the success of the mechanism in the first commitment period of the Kyoto Protocol