Clean Development Mechanism (CDM) Business in Pakistan: Perceptions and Realities

Ajaz Ahmed, Aneel Salman


Climate change is the biggest challenge human family has ever
faced in world history. It has local as well as global impacts and
almost all the ethnic groups, communities, and geographical locations
are exposed to it [Stern (2006)]. But comparatively developing countries
are more exposed to the changes which are taking places due to climate
[Stern (2006) and Barker (2008)]. The degree of their exposure which has
a number of determinants varies across different regions [Karen, et al.
(2004)]. Climate experts so far have proposed two broader solutions for
this problem; mitigation of climate change by reducing the amount of
emitted carbon from atmosphere, and adaptation to climate changes
[Tompkins and Adger (2005) and Becken (2005)]. Kyoto Protocol of the
United Nations Framework Convention on Climate Change (UNFCCC) is
dealing with climate change mitigation. It is the milestone towards
global carbon mitigation efforts [Miriam, et al. (2007)]. This protocol
has resulted in the establishment of carbon markets by adopting the
Clean Development Mechanism (CDM). Pakistan ratified the Kyoto Protocol
in 1997 and implemented it in 2005. To ensure the smooth functioning of
carbon trading business in Pakistan, CDM related infrastructure was
developed. Mainly this includes the establishment of CDM Cell in
Pakistan, but a number of private consultancies also came into being
with the emergence of this mechanism.

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