Environment Minister Röttgen Calls for Expansion of CDMs and Emission Trading at Carbon Expo

In his opening speech at Carbon Expo, Federal Environment Minister Norbert Röttgen called for an expansion of Clean Development Mechanisms (CDMs) and emission trading.

Restricting greenhouse gas emissions  to limit global warming to 2° C requires an intelligent and fair mix of political and financial instruments, Mr Röttgen said.

He also pointed out that developing and emerging countries will receive USD 30 billion until 2012 for a so-called Fast Start. As of 2020, USD 100 billion would be needed for emission reductions and adaptation measures, he said. While the countries themselves had to contribute, they were unable to bear the full burden. Hence, carbon markets had to provide much of the financing.

Carbon markets set a price for CO2, making economies more efficient and triggering innovation and investment, Mr Röttgen said. He called for a further development of CDMs and the development of new mechanisms like NAMAS (nationally appropriate mitigation actions) as well as mechanisms for individual sectors and industries.

Mr Röttgen reiterated his opinion that the EU should raise its CO2 emission reduction target for 2020 to 30%.

Source: Federal Ministry for the Environment, Nature Conservation and Nuclear Safety

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