The analysis shows that carbon markets enabled N2O emissions abatement levels that had not previously been achieved.
However, it also indicates that the CDM appears to have caused significant carbon leakage during the economic downturn in 2008 and 2009. We estimate that about 20% of the CERs issued for CDM adipic acid plants for 2008 and 2009 – totaling to about 13.5 MtCO2e – do not represent real emission reductions.
The paper also evaluates policy solutions to prevent such carbon leakage in the future.
Download the paper (pdf, 634kb)