Friday, November 16, 2012
by Regina Cline
The executive board for the Clean Development Mechanism (CDM) under the U.N. Framework Convention on Climate Change will meet Nov. 19-23 in preparation for two weeks of international climate negotations that begin Nov. 26 in Doha, Qatar.
CDM allows industrialized nations to receive greenhouse gas emissions reduction credits by investing in emissions-avoiding projects in developing countries.
However, as detailed in a Nov. 15 World Climate Change Report article on a recent study prepared by the European Commission, CDM could eventually be succeeded by a system involving industrial sectors. Sectoral crediting would reward sectors or companies in developing countries with carbon allowances if they keep their emissions below a certain threshold. The allowances would accrue either to governments or to companies, in principle giving governments an incentive to introduce emissions reduction policies on a sector-by-sector basis, or giving companies an incentive to reduce their emissions through the adoption of new technology.
California Auction Results Expected
The results of California's first greenhouse gas emissions auction, including a list of qualified bidders, the number of allowances sold, and the settlement price, is expected to be made public Nov. 19. As covered in a Nov. 9 article, California offered more than 62 million greenhouse gas emission allowances during its Nov. 14 auction. The permits are needed by covered entities to comply with the state's cap-and-trade program. Before the auction, CARB set the floor price at $10 a ton and estimated the auction would raise about $600 million.
Summit in Bogota
Bogota, Colombia, will host a Nov. 19-21 summit on "Cities and Climate Change" to discuss actions Latin American cities can take to mitigate and adapt to climate change. The summit also is being hosted by the Latin American Development Bank and the French Embassy.
Columbia University Forum
"After Sandy: Climate and Our Coastal Future" will be the topic of a forum Nov. 19 at Coumbia University in New York. The forum is being co-sponsored by the Earth Institute and the World Leaders Forum.
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