Latin American Carbon Forum Calls for CDM Continuity
30 September 2011: The sixth Latin American and Caribbean Carbon Forum concluded in San José, Costa Rica, with calls by carbon project developers and the private sector to clarify the future of the Clean Development Mechanism (CDM) and other carbon finance options.
Opening the Forum, Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), said a global low carbon economy requires that governments define an international policy framework to facilitate this transformation, while mobilizing the private sector to spur innovation and attract investment capital.
The three-day event included discussions on the state of the carbon markets, including existing mechanisms such as CDM and REDD+ (reducing emissions from deforestation and forest degradation in developing countries, as well as conservation, sustainable management of forests and enhancement of carbon stocks), and emerging ones such as Nationally Appropriate Mitigation Actions (NAMAs) and how they link to Low Emission Development Strategies (LEDS). On these issues, participants noted that long-term policy signals and guidance are needed for a global carbon market to develop and reach the required scale.
The Forum was organized by the Ministry of Environment, Energy and Telecommunications of Costa Rica, the Latin American Energy Organization (OLADE), the International Emissions Trading Association (IETA), the World Bank Institute (WBI), the Inter-American Development Bank (IDB), and the UN Environment Programme (UNEP) Risoe Centre, with participants coming from over 46 countries. [IDB Press Release] [Forum Website]