Governance reform of the clean development mechanism after Poznan

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Courtesy of Lexxion Verlagsgesellschaft mbH

The Kyoto Protocol’s Clean Development Mechanism (CDM) has proven to be a very successful instrument, which is remarkable considering the fact that the climate change regime had no such global market mechanism or market experience just over seven years ago. Now it has become established and has engaged stakeholders, and there has been increased scrutiny of its governance structures and performance as a regulatory approval system. This paper explores the key outputs from the Pozna´n negotiations in December 2008, and considers which governance reforms could be driven in 2009 and beyond to make the CDM a more effective and credible international instrument.

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