Risk management in the Clean Development Mechanism (CDM) – the potential of sustainability

Adrian Muller
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Adrian Muller: University of Zurich

A chapter in Economics and Management of Climate Change, 2008, pp 193-207 from Springer

Abstract: Abstract There is a danger that the CDM will fail to achieve its goals, namely reduction of greenhouse gas emissions and enhanced sustainable development. Sustainability labelling is a promising strategy to hedge against such failures. Labels could also serve as a business risk-hedging tool. The existing labels for the CDM are not comprehensive enough, however. A two-tiered stakeholder participatory approach with national flexibility under an international umbrella could be a promising option. Due to the necessary bureaucracy this might not be feasible. Labels in the spirit of the existing approaches – addressing only restricted aspects of sustainability or not applicable to all sectors – may be a second-best option. Other instruments for the further regulation of the CDM, such as a profit tax, should therefore be discussed as well.

Keywords: CDM; labels; sustainability indicators; risk; equity (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-0-387-77353-7_14

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DOI: 10.1007/978-0-387-77353-7_14

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