UNFCCC Publishes Report of Workshop on New Market-based Mechanism

UNFCCC18 October 2012: The UNFCCC Secretariat has published the report of the workshop on the new market-based mechanism (FCCC/AWGLCA/2012/INF.10), which was held under the Ad Hoc Working Group on Long-term Cooperative Action under the Convention (AWG-LCA) work programme on modalities and procedures for the new market-based mechanism.

The workshop was the second workshop on this issue, and was held on 31 August 2012, in Bangkok, Thailand. The aim of the workshop was to provide an opportunity for parties, experts and other stakeholders to consider the submissions made by parties and admitted observer organizations on the matters referred to in paragraphs 83 and 84 of Decision 1/CP.17 (new market-based mechanism), as well as to discuss these matters.

The report summarizes the discussions that took place during the workshop, together with the proceedings of the workshop. At the workshop, participants shared information and their views on three topics: models for discussion, technical elements and challenges associated with implementation. In addition, the workshop included two panel discussions. The first panel focused on the scope of, and participation in, the new market-based mechanism. The aim of this panel was to identify and discuss how to define the type of activities that could be eligible under the new mechanism, as well as to discuss conditions for hosting and benefiting from the outcomes of projects under the new mechanism. The second panel focused on accounting and unit tracking, with the aim of reviewing different options for: establishing baselines and targets; measuring the impact of activities under the new mechanism; and safeguarding against double counting efforts.

The report will be considered by the AWG-LCA at its 15th session at the end of the year. [Report on the Second Workshop on the New Market-based Mechanism]