Column : Doha’s second chance
However, agreeing to a second commitment period without meaningful rules is pointless: emissions cuts must be ambitious and carryover rules shouldn’t drag surplus carbon permits from the 2008-2012 period to a fresh phase. According to Thomson Reuters, targets declared by Parties likely to participate in a second Kyoto period are significantly higher than business-as-usual emissions between 2013 and 2020. This is a serious issue, and risks undermining the environmental integrity of emissions trading altogether.
2. Doha should see progress on giving direction for a new market mechanism, inherent in the Durban Platform. There is debate even on basic issues such as whether it should include project-based mechanisms like the CDM, or sit alongside them. Kyoto, despite its shortcomings, created architecture for emissions target setting, linking with regional schemes, and involving developing countries in a manner not demonstrated since its inception in 1997.
While the Durban Platform is designed to be
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