Clean development mechanism as a solution to the present world energy problems and a new world order: a review

Abstract

One of the important responses of Kyoto Protocol towards mitigation of global warming is the clean development mechanism (CDM) that has garnered large emphasis amidst the global carbon market in terms of certified emission reduction (CER). CERs are the carbon credits issued by the CDM executive board for emission reductions achieved by CDM projects and verified by designated operational entity (DOE) under the rules of the Kyoto Protocol. While CDM aims to achieve sustainable development in energy production and consumption in developing countries, the results achieved through its implementation are still uncertain. More than 400 studies have been undertaken since 1997 on the CDM. Albeit, hitherto no compilations of key issues pertaining to the CDM and different points of views on its implementation and achievement have been attempted. This paper envisages to assess the contributions of the CDM towards sustainable development and its impact in various sectors.

Institutional Analysis of the Global Climate Change Regime: Literature Review of International Climate Negotiations

“…Table 1 presents the articles reviewed. (Gupta & Mason, 2016) (Bodansky & Rajamani, 2013) (Ventura, et al, 2015) (Stewart, et al, 2013) (Moncel & Asselt, 2012) (Otto, et al, 2014) (Marcucci & Turton, 2013) (Kriegler, et al, 2015) (Riahi, et al, 2015) (Arroyo-Currás, et al, 2015) (Briner & Prag, 2013) (Chaturvedi, 2015) (Glomsrød, et al, 2013) (Gilley & Kinsella, 2015) Carbon tax 10 (Strand, 2013) (Alton, et al, 2014) (Wang & Li, 2015) (Gale, et al, 2013) ) (Elliott & Fullerton, 2013) (Sundar, et al, 2016) (Brooks, 2015) (Pezzey & Jotzo, 2013) (Lamperti, et al, 2015) Emission trading, trade, carbon markets 10 (Perthuis & Trotignon, 2013) (Uddin & Holtedahl, 2013) (Anon., 2013) ) (Lutz, et al, 2013) (Rabe, 2016) (Stiglitz, 2015) (Cormier, 2013) (Erickson, et al, 2014) (Sreekanth, et al, 2014) Carbon tax and cap-and trade 5 (Goulder & Schein, 2013) (Lui, 2016) (Sewalk, 2013) (Repetto, 2013) Minilateralism 8 (Debaere, et al, 2014) (Falkner, 2015) (Hjerpe & Nasiritousi, 2015) …”

“…He found that the unison global carbon market would be desirable, but also utopist with the current policies. Also Sreekanth et al (2014) came into the conclusion that even if the CDM does not necessarily contribute the sustainable development it is the most significant tool for climate change mitigation. He claimed that the CDM in spite of its flaws is a necessity for getting closer to reaching the emission reduction target.…”

“…For example studied the markets for pollution allowances. Sreekanth et al (2014), Erickson et al (2014), Cormier and Bellassen (2012) studied the clean development mechanism as an example of the most significant market based mechanism. Perthuis and Trotignon (2013) studied the EU Emission trading scheme as an example of market based approach.…”