Abstract
The discussion about Clean Development Mechanism (CDM) Projects has its roots in global warming and its consequences. CDM projects enable developed countries to offset the pollution generated by the acquisition of Certified Emission Reductions (CER), concerning the reduction of Greenhouse Gases (GHG) emissions in developing countries. The article discusses the CDM in a comprehensive manner, based on the opinion of experts, and investigates the future of this market from 2012, the post-Kyoto period. The main results show that the CDM follows the principles of Sustainable Development, focusing on the climate changes and the profitability of projects. It shows that Brazil has real possibilities to act in the CER market which is expected to consolidate in the post-Kyoto. Controversial issues as the future of post-Kyoto, nuclear power and especially the conservation of forests, through the generation of CER, remain undefined.
Highlights
Clean Development Mechanism (CDM) projects enable developed countries to offset the pollution generated by the acquisition of Certified Emission Reductions (CER), concerning the reduction of Greenhouse Gases (GHG) emissions in developing countries
It shows that Brazil has real possibilities to act in the CER market which is expected to consolidate in the post-Kyoto
According to the Kyoto Protocol (KP 1997), industrialized countries must reduce by 5.2% the emissions of greenhouse gases (GHG) by 2012 compared to 1990 levels
Summary
According to the Kyoto Protocol (KP 1997), industrialized countries must reduce by 5.2% the emissions of greenhouse gases (GHG) by 2012 compared to 1990 levels. Through proper environmental management and generation of carbon credits through CDM projects, Brazil could become more competitive internationally, stimulating the flow of foreign investments to the country. CDM projects that can generate carbon credits, became the financial arm of KP for developing countries, they attract the private sector for the causes of global warming. The main objective of this research is to show the importance and the scope of the discussion on CDM projects To achieve this purpose, we defined the following secondary objectives: i) to verify whether CDM projects are profitable under the economic point of view, ii) to identify the importance of CDM in reducing greenhouse gas (GHG), and, iii) to investigate the future market of carbon credits in the post-Kyoto. This paper includes the following parts: Introduction in which we seek to define and delimit its context; Literature Review and Hypotheses; Methodology in which we present the tools of qualitative research; Analysis of main results; and Final Considerations, in which we compare the hypotheses with the results
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