Barriers
World Bank (n.d., p. 12) described a number of barriers to the use of the CDM in least developed countries (LDCs). LDCs have experienced lower participation in the CDM to date. Four CDM decisions were highlighted as having a disproportionate negative impact on LDCs:
- Suppressed demand: Baseline calculations for LDCs are low, meaning that projects cannot generate sufficient carbon finance to have an impact.
- Treatment of projects that replace non-renewable biomass: A decision taken led to essentially a halving in the emission reduction potential of these projects. This has particularly affected Sub-Saharan Africa and projects in poor communities, where firewood, often from non-renewable sources, is frequently used as a fuel for cooking and heating.
- Treatment of forestry projects and exclusion of agriculture under the CDM: These sectors are more important for LDCs than for middle-income countries. Credits from forestry projects are penalized under the CDM, leading to depressed demand and price.
- Transaction costs and CDM process requirements: These are geared more towards the most advanced developing countries, and do not work well for the projects most often found in LDCs.
Read more about this topic: Clean Development Mechanism
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