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highlights 77 CDM Highlights 77 November 2009 Monthly newsletter of the GTZ Climate Protection Programme (CaPP), written by Perspectives GmbH. Please send questions, comments or newsworthy items to climate@gtz.de Editorial Dear reader! The last rounds ...

highlights 77
CDM Highlights 77 November 2009 Monthly newsletter of the GTZ Climate Protection Programme (CaPP), written by Perspectives GmbH. Please send questions, comments or newsworthy items to climate@gtz.de Editorial Dear reader! The last rounds of climate negotiations before the Copenhagen showdown feature an increasingly acrimonious stance between industrialized and developing countries, amid pessimism among observ- ers. However, this has not really impacted on the carbon markets, where prices increased. The key challenge remains the willingness of the US to engage in a multilateral framework with a robust do- mestic legislation incentivizing significant emission reductions. Technologies hitherto sidelined by the CDM step up their efforts to get into the market – ranging from efficient stoves for traditional biomass use to CCS. Anja Wucke, GTZ and Axel Michaelowa, Perspectives UNFCCC, EB and its panels  The Bangkok negotiations in early October streamlined the negotiation text on market mecha- nisms. Essentially, it contains a menu of market mechanisms among which developing countries can choose – sectoral trading with ex-ante allocation, sectoral or policy ex-post crediting, CDM and CCS crediting. If at all, avoided deforestation (REDD) will be covered under a separate mecha- nism. Key issues of contention relate to target-setting, regulatory oversight and sanctions in case of non-compliance with a sectoral trading target. Moreover, the voluntary nature of sectoral mecha- nisms is unclear given attempts of the EU and the US to limit import of CERs from advanced de- veloping countries.  The EB met for its 50th meeting on October 13-16. It took the following decisions:  The accreditation of Japan Consulting Institute was not renewed. It can continue to validate and verify projects in the industrial and fugitive emissions scopes until August 2011. JCI’s valida- tions of projects that have been submitted for registration will be accepted.  A partial suspension of a DOE can be more targeted to avoid that the whole work of the DOE is brought to a standstill .  The consolidated methodology for biodiesel production, which had been shuttling between the EB and the Meth Panel several times has finally been approved as ACM 0017. Likewise, appli- cability of AM 0047 was expanded oil seeds from plants cultivated in dedicated plantations on degraded or degrading lands. This for the first time allows biofuel projects that use agricultural feedstocks such as palm oil or jatropha. The theoretical potential for such projects is large.  A consolidated methodology for bus lane and rail systems was approved as ACM 0016. It fa- cilitates the submission of transport projects compared to the existing methodology AM 0031, whose applicability was now expanded to rail systems.  After more than a year, the guidelines for barrier testing were approved. Any financial barrier as well as barrier related to increased technology risk should be assessed by investment analy- sis. If lack of access to capital, technologies and skilled labour is invoked, the assessment shall take into account the type of project developer, with a view to be more stringent in the case of multinational or large companies. Moreover, lenders have to show that they provided the loan only due to the availability of CER revenue. Projects in LDCs are exempt from the new rules.  For the first time, a “first of its kind” project that is automatically additional was defined quantitatively in terms of a penetration rate. Cement blending projects are additional if the share of blended cement in the host country is below 5%.  The monitoring of gas pipeline leaks was substantially simplified allowing to use plastic bags to measure leak flow rates.  Off-grid electricity generation capacity can be included in calculating the grid emission factor if total off-grid capacity or total off-grid power generation is at least 10% of total grid capacity or grid-connected power generation.  Default technical lifetimes are set for different equipment classes. Air conditioning systems are set at 15 years, boilers, steam turbines and onshore wind plants at 25 years. For peak load equipment, life is specified in operation hours – ranging from 50,000 for diesel generators to 200,000 for gas turbines above 50 MW. Compared to actual life of equipment in industrialized countries, these lifetimes are generous. Alternatively, an expert evaluation or the manufacturer’s specification could be used.  Three small-scale methodologies were approved for switch from electricity to captive power generation with low carbon fuels, landfill mining and composting, and fuel switch. Especially the first methodology could be widely applicable in India.  The small-scale methodology for renewable electricity now explicitly covers hydropower reser- voirs, where the same power density thresholds are applied as in the case of the large scale methodology.  Detailed rules for sampling in the context of small-scale methodologies were agreed. This will reduce the uncertainty regarding use of sampling in many methodologies and should facilitate their application.  The EB proposes that projects on areas with forests that were planted before 1989 and that are likely to be cut within 5 years from project start, as well as on areas that had a planted forest in 1989 that was cut and not replanted should qualify as forestry CDM projects. The final decision has to be taken by COP.  Out of 38 Requests for Review for registration, 17 projects will be reviewed. Reviews include 8 wind projects, where with the highest tariff level applied in the project’s province the benchmark might be exceeded.  Out of 13 projects under review, 3 Chinese wind projects were deemed additional.  4 projects, all related to waste heat recovery, were rejected. Three of them did not fulfil the ap- plicability conditions of ACM 12, as they argued for a new coal-fired captive power plant as the baseline scenario.  Out of 10 Requests for Review for issuance, 3 projects will be reviewed: one hydro and two wind projects.  Of the 2 reviews of issuance, one for a biomass power project was rejected due to problems with the moisture content of the biomass. However, the EB encouraged the project developer to resubmit the request with a request for deviation.  The EB recommends to the COP to decide on an appeal mechanism. Moreover, international organizations shall play a role in supporting the UNFCCC Secretariat – this could mean that the World Bank gets no directly involved.  The EB now has the lowest backlog in the last two years. The following topics, with schedules in brackets, remain to be addressed: — Common practice test definition (open-ended). — Materiality (EB 51) — Calibration frequency (EB 51). Many EB members were in favour of doubling the penalty for delayed calibration — Validation of grid emission factors published by DNAs DOEs have validated the Brazilian emission factor through a visit of the Brazilian DNA and would like to get this confirmed by the EB.  The Meth Panel met for its 41st meeting on October 19-23. It makes the following recommenda- tions to the EB  Approval of two methodologies - for combined cooling and power systems in buildings and bio- mass co-firing in thermal power plants. Both project types are widely replicable, but it is unclear how versatile the methodologies will be  Rejection of four methodologies – methane reduction from charcoal production in Brazil, landfill aeration, industrial gas reduction in semiconductor manufacturing and salt production.. Designated Operational Entities  The applications of three companies from Brazil, Spain and Japan have been withdrawn.  The Indian company KBS Certification Services and the South African company Carbon Check have submitted their application. Designated National Authorities  Australia, Latvia and Suriname have notified their DNAs  The DNA approval hitlist stands at  China: 2232 projects (+58). The new approvals include 26 hydro, 17 wind, 7 waste heat recov- ery, 4 biogas, 3 coal mine methane and 1 biomass power, ultrasupercritical coal power and dis- trict heating project each. Total annual CER volume is estimated at 10.0 million.  India: 1455 projects (+0).  Brazil: 217 projects (+0)  Indonesia: 104 projects (+0  Vietnam: 100 projects (+0).  Thailand: 91 projects (+1). The new project is a 1 MW landfill gas power project. A monthly newsletter of the Thai DNA can be subscribed at info@tgo.or.th  Philippines: 64 projects (+0).  Colombia: 45 projects (+6). Three hydropower, two landfill gas and one industrial energy effi- ciency projects project 0.2 million CERs per year.  Peru: 34 projects (+0)  Israel: 32 projects (+2)  Argentina: 26 projects (+0). Project developers and consultants  The submission of new projects remained almost stable at 96. Three large new projects entered the pipeline  Efficiency improvement of 2100 MW oil power plant (Azerbaijan, 9 million CERs by 2012)  Landfill gas project 15 MW (China, 2 million CERs by 2012)  Gas leak reductions (Uzbekistan, 1.4 million CERs by 2012)  Developers of projects that distribute efficient stoves discussed challenges of non-renewable bio- mass methodologies with members of the Small Scale Working Group and UNFCCC secretariat staff at a one-day workshop in Bonn on Oct. 26. Many developers called for the use of default fac- tors for the share of non-renewable biomass, baseline stove efficiency and CO2 reductions per stove used. Berkeley Air Monitoring Group announced marketing of “stove use monitors”, i.e. com- puter chips placed on stoves that measure stove temperature in predefined intervals and store the data for long periods.  Standard Bank and UNEP have set up a project development facility for Africa. The African Carbon Asset Development Facility plans to sponsor 10 projects by the end of 2010, with further expansion in 2011 and 2012. Gas flaring reduction and forestry projects will not be eligible.  The first forestry project in Africa, which is part of a cluster of 5 small-scale projects, was regis- tered. The Ugandan Nile Basin Reforestation Project uses pines for 75% of the 2137 ha project area and two native African tree species for the remainder. According to its developers, the project will generate about 500 jobs during planting of 64 blocks of 25 ha each and 200 jobs during ongo- ing management of the forest.  The International Small Group and Tree Planting Program (TIST) reports having received validation for a project in India. TIST bundles forestry activities of small famers of which 50,000 participate in the four countries India, Kenya, Tanzania and Uganda and provides an infrastructure for training on topics such as nursery development, tree planting, conservation farming, fuel-efficient stoves, nutri- tion and preventative health education. Using hand-held computers and GPS, highly trained farm- ers visit each tree grove and record the location, number, size, and species of live trees. The data, including pictures, is uploaded onto a central database using cell phones or Internet, and is avail- able at www.tist.org.  Manna Energy, a US company, wants to install solar-powered water purification systems, which utilize sand and ultraviolet light to filter rainwater, at a number of Rwandan secondary schools and eventually register them as a CDM project. The systems cost 30,000 Euro per unit.  French company Bionersis has engaged in a partnership with German utility E.ON, where Bioner- sis will install and operate methane recovery and flaring systems on landfill sites in various Asian countries, while E.ON will bring technical expertise in gas-fired power generation. Profits will be shared between Bionersis and E.ON.  Indian project developers are seeing a bright future regarding PoAs. JP Morgan is developing three PoAs, distributing 1.2 million solar lanterns, efficient commercial cooking stoves and biomass boil- ers and gasifiers. It boldly expects 12 million CERs by 2012. Emergent Ventures expects 15-20 PoAs in India over the next 6 to 12 months. It is developing PoAs regarding transmission line im- provement, street lighting upgrades and biomass gasifiers.  While the first registered PoA in Mexico has started distribution of 1 million compact fluorescent lamps, in the Philippines, distribution of 13 million lamps under a PoA has started.  The Global Wind Energy Council (GWEC), the Chinese Wind Energy Industries Association (CREIA) and the Chinese Wind Energy Association (CWEA) lobby jointly for a target of more than 100 GW wind power in China by 2020, with a focus on electricity production rather than installed capacity, which would encourage maximum efficiency of wind farm development. Moreover, they want to ensure that “carbon markets will continue to play a role for the wind industry in China in a post-2012 climate agreement”.  Thai villagers complain about negative health impacts of a CDM biopower plant using rice husk (see the full story at http://www.ipsnews.net/news.asp?idnews=48967)  JP Morgan has acquired over 80% of Ecosecurities’ shares.  Tricorona has written off 7 million CERs and is struggling to keep up with its delivery obligations. It has partnered with waste heat recovery technology provider Enerji to develop such projects in South East Asia and Africa.  According to New Energy Finance, secondary CER turnover has reached 583 million in the first 9 months of 2009, with primary trades reaching 93 million. Incentives for CDM investment  The price for EU allowances climbed to reach 14.8 Euro for the spot market and 16.5 Euro for 2012 vintages. The spread to issued CERs has remained stable at 1.2 Euro.  Germany’s new government has stopped the nuclear phase out, meaning that Germany’s demand for CERs and other international units will be substantially lower in the post-2012 system than ex- pected to date.  The Australian government has resubmitted the emissions trading bill to Parliament  The Czech government sold 5 million AAUs to Spain and 3.5 million to Austria. Latvia sold 1.5 mil- lion AAUs to Japan  Singapore’s effort to attract CDM businesses through concessionary tax rates bears fruit. Casper- vandertak Consulting and Tricorona have set up offices. Singapore Mercantile Exchange will trade CERs from the end of 2009 onwards.  The Indian Prime Minister Manmohan Singh praised the CDM as “an effective vehicle for promoting sustainable development in many developing countries”, whose revenues “often take some of the sting out of the risks associated with the introduction and adoption of newer and cleaner technologies”.  The number of CER trades on Indian exchanges has plummeted as foreign entities are not allowed to buy - on the Indian “National Commodity & Derivatives Exchange Limited (NCDEX), a profes- sionally managed on-line multi commodity exchange, it fell from 2541 in April 2008 to zero in Octo- ber 2009 and on the Multi-Commodity Exchange MCX, from 6254 in June 2008 to one. Currently, a Forward Contracts (Regulation) Amendment Bill is under discussion in Parliament, which would both define the regulation on carbon credits trading and introduce options based on them.  The IEA has called industrialized countries to provide 1 to 1.75 billion Euro annually for CCS pro- jects in developing countries between 2010 and 2020. This would allow to reach annual sequestra- tion of 73 million t by 2020 through 33 projects, of which 18 million through 9 projects in the power sector. In oil-producing countries, the CCS debate is gaining momentum, as witnessed in an article in United Arab Emirate’s newspaper “The National” (see http://www.thenational.ae/apps/pbcs.dll/article?AID=/20091024/BUSINESS/710249942/1005)  Voluntary emission reductions (VERs) generated by CDM projects prior to their registration account for over half of total VER volumes available on the market and sell for around 2 Euro.  Regarding post-2012 negotiations  Japan has stated that it would cover up to 60% of its emission reduction under the 25% reduc- tion target by using international market mechanisms  Eastern European EU members blocked an EU statement to prohibit banking of AAUs into the post-2012 period. Germany and France blocked a concrete financial commitment for funding of developing country action.  Norway has published a 40% reduction target for 2020.  Brazil considers stabilization at 2005 emissions levels as emission target  The US has stated that it is unwilling to ratify a post-2012 regime built on the Kyoto Protocol. The EU’s attempt to define a compromise which retains key elements of the Kyoto Protocol, has drawn the ire of developing countries that adamantly defend the Kyoto Protocol as basis of the negotiations. Web news and downloads of the month  Caisse des Dépôts discusses the role of projects in the future international climate agreement, download at www.caissedesdepots.f/fileadmin/PDF/finance_carbone/climatsphere/climatsphere_15_eng.pdf  OECD assesses the design of sectoral market mechanisms and the transition from the CDM to sectoral mechanisms in detail at http://www.oecd.org/dataoecd/3/28/44001884.pdf  Carbonomics Consulting discusses whether the CDM or a sectoral mechanism allows host coun- tries to capture more rents. Download at http://stoft.com/metaPage/lib/Stoft-2009-09-Sectoral- Mechanism-Incentives.pdf  Dutch researchers provide a picture of the carbon market if current industrialized country target proposals were agreed in Copenhagen. Download at http://www.rivm.nl/bibliotheek/rapporten/500102032.pdf  NGO International Rivers provides a new summary of the status of CDM hydro projects at http://www.internationalrivers.org/en/node/4712  A paper discussing technology selection by CDM projects is available at http://www.merit.unu.edu/publications/wppdf/2009/wp2009-015.pdf  China has a huge potential of low cost geological carbon storage, see http://energyenvironment.pnl.gov/news/pdf/us_china_pnnl_flier.pdf and http://www.nrdc.org/international/chinaccs/files/fchinaccs.pdf. Moreover, the Global CCS Institute states that projects in industrialized countries are suffering from high costs and that lower cost op- tions in developing countries should be preferred – see http://www.globalccsinstitute.com/downloads/Status-of-CCS-WorleyParsons-Report-Synthesis.pdf This provides more impetus for advocates of CCS in the CDM.  A fascinating story about the barriers blocking an oil to gas conversion CDM programme in Egypt is available at http://www.businesstodayegypt.com/printerfriendly.aspx?ArticleID=8675  The latest CB Newsletter on future of the CDM is available at http://www.climatebusiness.net/downloads/Newsletter_22.pdf (registration required)  Wild humour regarding the negotiations of the sectoral market mechanisms can be found at http://lowcarbonara.wordpress.com/2009/10/09/inappropriate-new-market-mechanisms/  A project search engine is available at www.cdm-watch.org/?page_id=509  The famous IEA country emissions database is available free of charge at http://www.iea.org/co2highlights/co2Highlights.XLS  By the end of October, 224 buyers (-1) from 35 countries (+0), 298 (+5) sellers from 62 countries (+0) and 633 service providers (+6) from 62 countries (+1) had listings on CDM Bazaar. India leads the list of service providers with 151 entries, followed by the UK with 60, US with 55, China with 51 and Brazil with 35. 64 projects and project ideas (+8) have been posted by sellers. GTZ CDM capacity development Carbon finance could be a key mechanism t
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