UN carbon markets: what to expect from Bonn

The document argues for the phase-out of the Clean Development Mechanism (CDM) in favor of a results-based Sustainable Development Mechanism (SDM) that prioritizes climate finance over offsetting. It emphasizes the need for mandatory local stakeholder consultations and recourse mechanisms to prevent human rights violations. Additionally, it warns that the ICAO's CORSIA scheme for aviation emissions risks undermining the Paris Agreement if double-counting of emission reductions occurs.

• The Clean Development Mechanism (CDM) is deemed ineffective and harmful, with only 2% of its projects clearly reducing emissions and some violating human rights. The author argues the CDM should be phased out post-2020 and replaced by a Sustainable Development Mechanism (SDM) designed as a results-based climate finance scheme where credits are cancelled rather than used to substitute domestic emission reductions.
• To ensure sustainable development and avoid adverse impacts on local populations, the SDM must require local stakeholder involvement during project design and implementation, with clear rules for consultations and a transparent process for seeking recourse.
• The Carbon Offset and Reduction Scheme for International Aviation (CORSIA), established by the International Civil Aviation Organisation (ICAO), is criticized for failing to align the aviation sector with the 1.5°C target and creating a risk of double-counting emissions reductions between national Paris Agreement commitments and aviation targets.

APA

Dufrasne, G. (2018). UN carbon markets: what to expect from Bonn. Carbon Market Watch. https://carbonmarketwatch.org/2018/04/26/un-carbon-markets-what-to-expect-from-bonn/

Chicago

Dufrasne, Gilles. UN carbon markets: what to expect from Bonn. Carbon Market Watch, 2018. https://carbonmarketwatch.org/2018/04/26/un-carbon-markets-what-to-expect-from-bonn/.

Wikipedia

{{cite report |last1=Dufrasne |first1=Gilles |title=UN carbon markets: what to expect from Bonn |publisher=Carbon Market Watch |date=26 April 2018 |url=https://carbonmarketwatch.org/2018/04/26/un-carbon-markets-what-to-expect-from-bonn/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{dufrasne2018carbon, author = {Dufrasne, Gilles}, title = {{UN carbon markets: what to expect from Bonn}}, institution = {Carbon Market Watch}, year = {2018}, month = apr, url = {https://carbonmarketwatch.org/2018/04/26/un-carbon-markets-what-to-expect-from-bonn/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }