Summary of CDM Executive Board Meeting 64

The CDM Executive Board's 64th meeting addressed the establishment of a high-level policy dialogue to review CDM experience for the post-2012 period and considered a 'risk-based-approach' to manage a surge in project registrations. Key discussions included proposals to tighten additionality testing for large-scale projects, the development of new transparency standards (PS, VVS, and PCP), and the establishment of liability rules for excess Certified Emission Reduction (CER) issuance resulting from fraud or negligence.

• The CDM Executive Board agreed to a policy dialogue to review past experiences and prepare the CDM for the post-2012 period. This process involves a high-level panel of up to 12 members from civil society, policymakers, and market participants, with a final report expected in the fall of 2012.
• Due to a high volume of projects seeking registration before the end of 2012—after which the EU will only accept new projects in Least Developed Countries—the Board is considering a 'risk-based-approach'. This would replace individual evaluations of every project with spot checks to speed up the process.
• A proposal was introduced by the Dutch Board member to modify additionality testing for very large projects (investments over US$ 50 million), arguing that such projects are often part of strategic government plans and not solely dependent on CDM registration. Suggested changes include a financial benchmark of 4-5% above project IRR and limited crediting periods of 7-10 years for large public sector investments.
• The Board established preliminary liability rules for the over-issuance of CERs due to fraud or negligence. Liability is not limited, but only cases after 28 November 2008 will be examined. Currently, only Designated Operational Entities (DOEs) can be held liable, not project developers, and they must compensate for both financial and climate damage by replacing over-issued CERs with valid ones.
• The Board is developing three new standards to increase transparency and efficiency: the Project Standard (PS), the Validation and Verification Standard (VVS), and the Project Cycle Procedure (PCP).
• The Board reviewed stakeholder consultation processes following 19 submissions. While the Secretariat noted that all parties were dissatisfied with current processes, the Board did not make immediate decisions on improvements, instead tasking the secretariat to develop recommendations.

APA

Carbon Market Watch (2011). Summary of CDM Executive Board Meeting 64. https://carbonmarketwatch.org/publications/summary-of-cdm-executive-board-meeting-64/

Chicago

Carbon Market Watch. Summary of CDM Executive Board Meeting 64. 2011. https://carbonmarketwatch.org/publications/summary-of-cdm-executive-board-meeting-64/.

Wikipedia

{{cite report |author=Carbon Market Watch |title=Summary of CDM Executive Board Meeting 64 |date=7 November 2011 |url=https://carbonmarketwatch.org/publications/summary-of-cdm-executive-board-meeting-64/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{carbonmarketwatch2011summary, author = {{Carbon Market Watch}}, title = {{Summary of CDM Executive Board Meeting 64}}, institution = {Carbon Market Watch}, year = {2011}, month = nov, url = {https://carbonmarketwatch.org/publications/summary-of-cdm-executive-board-meeting-64/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }