Clean development mechanism projects seen to continue beyond 2012

MANILA, Philippines - Projects under the clean development mechanism (CDM) are expected to continue even beyond 2012 when the Kyoto Protocol, the only legally binding international agreement on climate change, expires.

Lex De Jonge, chairman of the CDM Executive Board-United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, said some CDM projects would go on since these have crediting periods of either seven years or 10 years, which means they could be renewed twice.

De Jonge said the CDM is now a “quite mature system” as it has already developed, “improved” over time, and can now process 500 up to 700 requests for registration per year.

 “Some projects will run beyond 2012 (though maybe) it has to be part of the new treaty but I do expect that most of those credits will be rewarded,” he said.

He added that he sees no reason why existing CDM project would discontinue if climate talks fail in Copenhagen this December. The   CDM is part of the Kyoto Protocol, which goes on until 2012.

He said as long as there is an executive board to assess and register CDM projects, the system would continue.

De Jonge explained that a convention does not expire, and the CDM Executive Board was created under the UNFCCC.

“I think the system could still be up and running beyond 2012, certainly for the projects which have already been registered even without a successor of the Kyoto Protocol, I think,” he said.

Meanwhile, key players in the carbon market made a pit stop at the Carbon Forum Asia 2009 in Singapore last week, optimistic that the CDM would go on and world leaders would forge a new agreement on greenhouse gas emission cuts to address climate change in Copenhagen next month. – Katherine Adraneda