Clean Development Mechanism (CDM): A Kyoto Protocol program that enables industrialized countries to finance emissions - avoiding projects in developing countries and receive credit for reductions achieved against their own
emissions limitation targets.
Whereas although the Convention, approved by the United States Senate, called on all signatory parties to adopt policies and programs aimed at limiting their greenhouse gas (GHG) emissions, in July 1996 the Undersecretary of State for Global Affairs called for the first time for «legally binding»
emission limitation targets and timetables for Annex I Parties, a position reiterated by the Secretary of State in testimony before the Committee on Foreign Relations of the Senate on January 8, 1997;
Not exact matches
The aim of the mechanism is to stimulate sustainable development and
emissions reductions, whilst at the same time giving industrialised countries flexibility to meet their
emission reduction
limitation targets.
Further, it is not obvious to us that there are physical or economic
limitations that prohibit fossil fuel
emission targets far lower than 1000 GtC, even
targets closer to 500 GtC.
But the requirement that the developed countries «should continue taking the lead by undertaking economy - wide absolute
emission reduction
targets» is vastly more stringent than the provision by which developing countries are merely «encouraged to move over time towards» reduction or
limitation targets.
Further, it is not obvious to us that there are physical or economic
limitations that prohibit fossil fuel
emission targets far lower than 1000 GtC, even
targets closer to 500 GtC.
The first is the need to set any
target in light of a total global ghg
emissions limitation or budget entailed by the need to limit ghg
emissions to levels that will not cause dangerous climate change.
The lack of a «conceivable pathway to reducing CO2 concentrations... on the timescales put forth by the Paris Agreement» is not improved by said Agreement's permitting «developing countries» (responsible for about 65 % of global
emissions) to prioritise «economic... development and poverty eradication» over CO2 reduction, merely encouraging them to «move over time towards...
emission reduction or
limitation targets»: https://judithcurry.com/2016/08/16/cop21-developing-countries/
Takes note also of the quantified economy - wide
emission reduction
targets communicated by Parties included in Annex I and presented in Annex 1 to this decision and of the intention of these Parties to convert them to quantified
emission limitation or reduction objectives for the second commitment period under the Kyoto Protocol;
UNEP pointed out in its report that the 44 GtCO2e
target by 2020 is necessary to have any hope of achieving even greater cuts needed after 2020 when total
emissions must be limited to sharply declining total
emissions limitations.