文章基本信息

标题：Implementing the Clean Development Mechanism: Lessons from U.S. Private-Sector Participation in Activities Implemented Jointly
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作者：Lile, Ronald D. ; Powell, Mark R. ; Toman, Michael 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：1998
期号：SUPPL
出版社：Food Distribution Research Society
摘要：The "Clean Development Mechanism" (CDM) contained in the December 1997 KyotoProtocol to the United Nations Framework Convention on Climate Change provides, for thefirst time, the capacity for industrialized countries to claim credits for greenhouse gas (GHG)emissions reductions or offsets undertaken in cooperation with host developing countries.However, the Protocol provides no guidance on how these cooperative activities for GHGreduction and sustainable development would be undertaken in practice, including theparticularly important issue of the relationship of the private sector vis-à-vis governmentinstitutions in designing, financing, and securing approval for jointly implemented GHGabatement projects. The pilot program for "Activities Implemented Jointly" under theFramework Convention provides an opportunity to better understand the practical constraintsand opportunities for successful private sector participation in the CDM.This paper highlights some of the lessons for establishing a successful CDM byexamining a small number of cases from the United States Initiative on Joint Implementation(USIJI). We first review the objectives, proposal review and evaluation criteria of thisprogram, and provide some overall information on project proposals by project type and stageof development. We then develop case studies of two energy-related USIJI projects from theearlier phase of the program. These cases illustrate several potential problems that can arisein establishing CDM transactions. Further investigation of more recent cases sheds somelight on the extent to which these problems change over time.To be successful, the CDM must be based on a solid institutional footing, with clearincentives for all parties involved. The cases we examine illustrate how transactions canbecome entangled in the same kinds of problems that bedevil other transactions in developingand transitional economies. In both early cases, "transaction costs" were substantial. Thelatter projects indicated that while the nature of transactions costs changed over time, they stillremained somewhat substantial. Project proponents regarded gaining USIJI acceptance asone of the principal impediments to JI project development. The cases also illustrate the needfor clear and widely understood goals and procedures for investor country approval. Inaddition, the analysis underscores how attitudes of different project proponents regarding thevalue of GHG credits can affect their perspective on the transaction. Finally, the studyunderscores that financing remains the ultimate hurdle to project implementation, and that theexpectation of a clear financial return on investment is a prerequisite to a successful project.
关键词：climate change; joint implementation