How have the developed countries played their part towards global warming?
Answers
To cut down their greenhouse gas emissions, rich nations are investing in clean energy projects in poorer countries. ALTHOUGH not required to slash their greenhouse gases (GHG) emissions in the face of global warming, developing countries have been playing a mitigating role through the Clean Development Mechanism (CDM). Under CDM, one of three mitigating mechanisms of the United Nations-led Kyoto Protocol agreement, developing countries are helping developed economies (grouped as Annex I countries) lower their emissions by 5.2% from 1990 level between 2008 and 2012. CDM enables developed nations to purchase carbon credits by investing, in developing countries, projects that avoid or reduce emissions. In return, CDM projects are supposed to assist non-Annex I nations achieve sustainable development by providing them with climate-friendly technologies. A total of 945 CDM projects in 48 countries have been registered with the UN Framework Convention for Climate Change (UNFCCC) since 2005, the year Kyoto Protocol was implemented. Most projects are in India and China. To date, 1.17 billion carbon credits called Certified Emission Reduction (CER) units, worth US$12bil (RM42bil) at an average of US$10 (RM35) per unit, have been issued. Each unit is equivalent to one tonne of carbon dioxide. In Malaysia, the National Committee on CDM was established in 2002 and three technical committees were set up to guide the development of CDM in the sectors of energy, forestry and agriculture. The energy sector is the most active, accounting for the bulk of the 26 registered projects that have generated 14 million CERs. As of January, 97 other projects have been mooted and are in various stages of implementation. There is no project from the forestry sector yet although Malaysia is trying to sell credits from its plantation forest schemes pending the finalisation of the definition of forests according to the CDM criteria. CDM consultant and carbon trading broker Soeren Varming of SV Carbon says Malaysian projects fulfil the two objectives of CDM: assisting developing countries to attain sustainable development and developed countries to meet their emission reduction targets.
Answer:
To cut down their greenhouse gas emissions, rich nations are investing in clean energy projects in poorer countries. ALTHOUGH not required to slash their greenhouse gases (GHG) emissions in the face of global warming, developing countries have been playing a mitigating role through the Clean Development Mechanism (CDM). Under CDM, one of three mitigating mechanisms of the United Nations-led Kyoto Protocol agreement, developing countries are helping developed economies (grouped as Annex I countries) lower their emissions by 5.2% from 1990 level between 2008 and 2012. CDM enables developed nations to purchase carbon credits by investing, in developing countries, projects that avoid or reduce emissions. In return, CDM projects are supposed to assist non-Annex I nations achieve sustainable development by providing them with climate-friendly technologies. A total of 945 CDM projects in 48 countries have been registered with the UN Framework Convention for Climate Change (UNFCCC) since 2005, the year Kyoto Protocol was implemented. Most projects are in India and China.