NAMA pipeline paves way for formal registry
The UN has taken a step to provide a better overview of actions taken in developing countries to cut emissions only two months before the climate change summit in Durban, South Africa. These actions may prove a source for future carbon credits.
The UNEP Risoe Centre research body, which tracks CER issuance, has published data on the National Appropriate Mitigation Actions (NAMA) pipeline for the first time in September.
In total, UNEP Risoe lists 101 projects, all approved in 2010. The data shows that almost half of these projects, or 44%, are registered in Africa.
Asia Pacific is in second place with 23%, and Latin America ranks third among the regions with 19% of the listed projects.
Only 10% are listed in Europe and Central Asia, 5% in the Middle East.
A formal NAMA registry has faced long delays. NAMAs are loose political concepts, created under the Bali Action Plan at an UN-led summit in December 2007.
While the pipeline is not an official NAMA registry, it offers an informal overview of projects submitted as NAMAs around the world.
This pipeline is expected to grow, the UNEP Risoe said on its website. "As this is early days in NAMA development, the site is expected to develop over the coming months as the NAMA agenda spreads and countries develop ideas for [actions]," UNEP Risoe adds.
Future credits for a global system?
NAMAs offer the potential to create new carbon credits within regional emission trading systems, as developing countries start to set up market mechanisms to combat climate change under a post-Kyoto global protocol climate-change system, negotiators have indicated (see EDCM 8 June 2011).
In total, the UN has provided for 25 different types of NAMAs. One type of NAMA would generate credits that could be sold on the international carbon market and pay for the mitigation actions. This could link the credits from different regional schemes and create a global market − at top of investors' wish lists - but this will take time, analysts have warned (see EDCM 8 June 2011).
The next UN climate change summit will take place in Durban, South Africa, from 28 November to 9 December. Countries will aim to negotiate a potential post-Kyoto deal. MLDB
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