Carbon Market Opportunities in Southern Mediterranean Countries

MEDPRO Technical Paper No. 8

59 Pages Posted: 3 Apr 2012

See all articles by Noriko Fujiwara

Noriko Fujiwara

Centre for European Policy Studies (CEPS)

Monica Alessi

Centre for European Policy Studies (CEPS)

Anton Georgiev

Centre for European Policy Studies (CEPS)

Date Written: March 16, 2012

Abstract

To date, Southern Mediterranean countries have hosted a limited number of projects under the Clean Development Mechanism (CDM). There are three challenges to the participation of middle-income countries in future carbon markets: the limited size of future demand for offsets or credits; restrictions on the use of CDM credits in Phase III of the EU Emissions Trading Scheme; and the lack of prompt preparation for the start of new market-based mechanisms. This study examines existing and emerging activities in Southern Mediterranean countries that could fit into new market-based mechanisms. It explores options for the evolution of mechanisms and discusses the merits of post-2012 carbon funds in bridging the gap between the end of the first commitment period of the Kyoto Protocol and the entry into force of a new international agreement.

Keywords: Southern Mediterranean, EU, EU emissions trading scheme, clean development mechanism, CDM, Kyoto Protocol, carbon market

Suggested Citation

Fujiwara, Noriko and Alessi, Monica and Georgiev, Anton, Carbon Market Opportunities in Southern Mediterranean Countries (March 16, 2012). MEDPRO Technical Paper No. 8, Available at SSRN: https://ssrn.com/abstract=2033083 or http://dx.doi.org/10.2139/ssrn.2033083

Noriko Fujiwara (Contact Author)

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres
Brussels, 1000
Belgium

Monica Alessi

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres
Brussels, 1000
Belgium

Anton Georgiev

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres
Brussels, 1000
Belgium

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