VIEWS ON THE FRAMEWORK FOR VARIOUS APPROACHES AND THE NEW MARKET MECHANISM

The document argues that the New Market Mechanism (NMM) and the Framework for Various Approaches (FVA) require a binding international governance structure to prevent double counting and ensure net atmospheric benefits. It identifies three types of double counting—unit type, double claiming, and overlapping mitigation/financial contributions—and calls for a common international transaction tracking mechanism. The author emphasizes that credits must be tied to the upholding of international human rights law and sustainable development indicators to avoid the failures observed under the Clean Development Mechanism (CDM).

• The document argues that a binding international governance structure is essential because host countries have an incentive to maximize credit generation, and voluntary guidelines, as seen with Joint Implementation Track 1, are insufficient. This structure should include a UN body as a standards-setting organization that approves all units and credits through a transparent common accounting framework.
• Three specific types of double counting must be addressed to protect mitigation goals: credits issued in more than one unit type (e.g., CDM offset and NMM credit), 'double claiming' where both host and buyer countries count the same reduction, and credits counted as both a mitigation effort and a financial contribution.
• Double claiming could potentially increase emissions by more than 1 billion tonnes of emission reductions in 2020, which would increase the projected emissions gap by approximately 10%.
• To ensure net atmospheric benefits, the document advocates for a broad interpretation of 'net decrease' as a global decrease in emissions, achieved by setting baselines below business-as-usual, cancelling or discounting units, and excluding projects that perpetuate high carbon fuel use.
• The author calls for explicit eligibility rules requiring that all internationally traded credits come from activities that uphold international law and the UN Charter on human rights, citing human rights abuses associated with the Clean Development Mechanism (CDM).

APA

Carbon Market Watch (2013). VIEWS ON THE FRAMEWORK FOR VARIOUS APPROACHES AND THE NEW MARKET MECHANISM. https://carbonmarketwatch.org/wp-content/uploads/2013/03/Views-on-NMMFVA_CarbonMarketWatch_250320131.pdf

Chicago

Carbon Market Watch. VIEWS ON THE FRAMEWORK FOR VARIOUS APPROACHES AND THE NEW MARKET MECHANISM. 2013. https://carbonmarketwatch.org/wp-content/uploads/2013/03/Views-on-NMMFVA_CarbonMarketWatch_250320131.pdf.

Wikipedia

{{cite press release |author=Carbon Market Watch |title=VIEWS ON THE FRAMEWORK FOR VARIOUS APPROACHES AND THE NEW MARKET MECHANISM |date=25 March 2013 |url=https://carbonmarketwatch.org/wp-content/uploads/2013/03/Views-on-NMMFVA_CarbonMarketWatch_250320131.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{carbonmarketwatch2013views, author = {{Carbon Market Watch}}, title = {{VIEWS ON THE FRAMEWORK FOR VARIOUS APPROACHES AND THE NEW MARKET MECHANISM}}, publisher = {Carbon Market Watch}, year = {2013}, month = mar, url = {https://carbonmarketwatch.org/wp-content/uploads/2013/03/Views-on-NMMFVA_CarbonMarketWatch_250320131.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }