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Risk management in the Clean Development Mechanism (CDM) – the potential of sustainability labels


Muller, A (2008). Risk management in the Clean Development Mechanism (CDM) – the potential of sustainability labels. In: Hansjürgens, B; Antes, R. Economics and Management of Climate Change: Risks, Mitigation and Adaptation. Berlin: Springer, 193-208.

Abstract

There is a danger that the CDM will fail to live up to its goals, namely reduction of greenhouse gas emissions and enhanced sustainable development. Sustainability labelling is a promising strategy to hedge against such failures. Labels could also serve as a business risk-hedging tool. The existing labels for the CDM are not comprehensive enough, however. A two-tiered stakeholder participatory approach with national flexibility under an international umbrella could be a promising option. Due to the necessary bureaucracy this might not be feasible. Labels in the spirit of the existing approaches – addressing only restricted aspects of sustainability or not applicable to all sectors may be a second best option. Other instruments
for the further regulation of the CDM, such as a profit tax, should therefore be discussed as well.

There is a danger that the CDM will fail to live up to its goals, namely reduction of greenhouse gas emissions and enhanced sustainable development. Sustainability labelling is a promising strategy to hedge against such failures. Labels could also serve as a business risk-hedging tool. The existing labels for the CDM are not comprehensive enough, however. A two-tiered stakeholder participatory approach with national flexibility under an international umbrella could be a promising option. Due to the necessary bureaucracy this might not be feasible. Labels in the spirit of the existing approaches – addressing only restricted aspects of sustainability or not applicable to all sectors may be a second best option. Other instruments
for the further regulation of the CDM, such as a profit tax, should therefore be discussed as well.

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Additional indexing

Item Type:Book Section, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:2008
Deposited On:13 Nov 2008 11:29
Last Modified:05 Apr 2016 12:33
Publisher:Springer
ISBN:978-0-387-77352-0
Additional Information:The original publication is available at www.springerlink.com
Official URL:http://www.springer.com/economics/environmental/book/978-0-387-77352-0
Related URLs:http://opac.nebis.ch/F/?local_base=NEBIS&con_lng=GER&func=find-b&find_code=SYS&request=005555519
Permanent URL: http://doi.org/10.5167/uzh-5334

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