A new document by the Clean Development Mechanism (CDM) of the UN has been recently realized as a significant step towards a major victory against the dirty, carbon intensive coal industry.
The CDM Executive Board requested another round of scrutiny of the rules that would allow coal power plants in India and China to receive carbon credits.
Besides the suspension of coal projects crediting, the European Parliament also sent a letter to the European Commission to stop the purchase of CO2 credits in developing countries related to the installation of incinerators and landfills.
The CDM’s decision clearly underscores the controversial nature of awarding carbon credits to the most carbon intensive fuel on the planet. The Sierra Club and CDM Watch strongly support the Board’s decision.
“Coal power projects not only pose severe harm to the climate, they also threaten the health of local communities ultimately failing to deliver sustainable development.” says Eva Filzmoser, Director of CDM Watch. “We applaud the Board’s decision which essentially marks the end of dirty carbon credits from coal power in the EU emissions trading scheme.”
This decision means that any future approval of the coal methodology will come too late for projects to get registered by the end of this year. Beginning next year projects will only be eligible for the EU emissions trading scheme (EU ETS) if they are from the world’s poorest countries.
This rules out the pipeline of coal projects which are all located in India and China.
Last year, the CDM Executive Board suspended the crediting rules of coal power projects. Because of concerns over environmental integrity, the rules continue to be suspended. A new set of revised rules will be discussed at the next meeting of the Board in September in Bangkok.