An analysis of key issues in the clean development mechanism based on the UNEP Risoe clean development mechanism pipeline

This paper provides a description of the analysis contained in the UNEP Risoe Clean Development Mechanism (CDM) pipeline not available on the site, some of the impacts/problems of the CDM and a way forward post-2012. The successful development of the CDM since it started in December 2003 is documented. The CDM pipeline includes calculation of the investment in the CDM projects. The total investment in the 2171 registered CDM projects is approximately US$60 billion. It is shown that programmatic CDM gives hope for an increased share of projects in Africa, since 16% of the programmatic CDM projects are hosted by African countries compared with 2.5% for normal CDM projects. One aspect that is normally forgotten in the critique of CDM is that there are large indirect benefits of the CDM: a large increase in the awareness of the importance of making GHG reduction activities in the developing countries after the CDM capacity building activities have been performed compared with before the CDM started.