CDM ready to register first projects
UNFCCC press release
print version unfccc.int/press/prel2004/pressrel020404.pdf
BONN, 2 April 2004 - The Executive Board of the Clean Development Mechanism (CDM) is awaiting the first requests for projects to be registered as "CDM project activities". Such a project reduces greenhouse-gas emissions and simultaneously advances sustainable development in the developing country where it takes place. The generated credits, so-called "certified emission reductions"(CERs), can be traded in the emissions trading regime emanating from the Kyoto Protocol.
Requests for registration of CDM projects are now possible as the Board has just accredited the first two project-validating companies: "Japan Quality Assurance Organization (JQA)" of Japan and "Det Norske Veritas Certification (DNVcert)" of United Kingdom. In addition to these two accredited "designated operational entities", as is their official title in the Kyoto Protocol, there are currently another 21 entities at various stages of the accreditation process. A designated operational entity plays a crucial role in ensuring the integrity of the CDM as it checks whether a project conforms with the CDM rules. Once validated by such an entity, a project is automatically registered by the Board after a period of eight weeks, unless there are objections which would warrant a review. The first CDM projects could thus be registered by mid-June 2004.
At its recent meeting in Bonn, Germany (24-26 March 2004), the Board also made progress with the approval of methodologies for baselines and monitoring, an essential element for moving forward both accreditation and registration. With two new approved methodologies, related to solid waste treatment combined with energy generation and oil field gas recovery and utilization, a total of eleven methodologies is becoming available for the use of project developers worldwide. In addition, about two dozen methodologies are currently at an advanced stage of consideration by the Board or are being reworked by proponents, while the remainder of the 50 submitted methodologies have been withdrawn or rejected. The Board also launched work on procedures related to CDM afforestation and reforestation projects.
Anticipating that the first CERs for CDM projects may be issued before the end of the year, the Board considered the set-up of the CDM registry, in which Parties hold accounts for such certificates, and which is a prerequisite for linking up the CDM to emissions trading systems.
The CDM was established under the 1997 Kyoto Protocol as a way of promoting sustainable development while minimizing the costs of limiting greenhouse gas emissions. It is supervised by an Executive Board which is responsible to the Conference of the Parties to the UNFCCC. The Board, at its first meeting in 2004, elected as its Chair for 2004-2005 Mr. John Shaibu Kilani of South Africa and Mr. Georg Borsting of Norway as its Vice-Chair.
Note to journalists: For more information, contact the UNFCCC press office at +49-228-815-1005 or email@example.com. See also www.unfccc.int.
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