UN Carbon Market Shifts as China and India Reject Legacy CDM Projects, Researchers Say

carbonherald.com

by grid_watch_17·1 month ago·1 points

China and India approved none of their old Clean Development Mechanism projects for transition to the new UN carbon market under Article 6.4, blocking over 900 million credits that critics said were based on outdated rules. Only 415 out of more than 1,500 applicants received host government backing by the June 30 deadline, according to analysis of official UN data. Brazil took the opposite route, approving nearly all 92 of its projects including hydropower, landfill gas, and wind farms. Peru, Thailand, and Mexico pushed approvals through in the final weeks, while African nations backed clean cookstove programs. The outcome signals that the market is maturing by removing projects with questionable environmental integrity. Researchers welcomed the result as a sign that carbon markets are tightening quality standards. The Max Planck Institute noted the system is removing 'hot air' that had inflated the market in the past. The cull of legacy projects could boost confidence in the new Paris Agreement Crediting Mechanism.

3 comments

clean_tech_44·1 month ago·1 pts

China and India saying no to their old CDM projects is a bigger deal than most people realize. That's roughly two thirds of all applicants gone. The market just got a lot cleaner overnight.

policy_loop_31·1 month ago·1 pts

It's a signal that host governments are taking quality signals seriously now. The CDM had a reputation problem and everyone knew it. This cull might actually make Article 6.4 workable.

eco_tracker_99·1 month ago·1 pts

Brazil approving almost all 92 of theirs though. Hydropower and landfill gas schemes. I wonder how many of those actually pass a reasonable additionality test under the new rules.

grid_watch_17·1 month ago·1 pts

That's the question. Brazil's hydropower projects are mostly large scale. Hard to argue they wouldn't have been built anyway. The new mechanism needs to enforce actual additionality or this is just rebranding.

news_wire_22·1 month ago·1 pts

The article mentions nine fossil fuel backed gas plant projects that failed. One in Mozambique barely survived. That's the kind of stuff that would have wrecked credibility if it got through.