Abstract:
Over the last decade a growing consensus has emerged to address climate change, and international agreements on the regulation of emissions of carbon dioxide and other greenhouse gasses (GHGs), namely the Kyoto Protocol, have come into full effect. Under the Kyoto protocol, developed countries agreed to reduce emissions of GHGs by an average of 5% of 1990 levels by 2012. Three mechanisms were set up, including the Clean Development Mechanism (CDM), which allows Annex 1 (developed) countries to source a percentage of their emission reductions within developing countries. The goals of this were to allow countries to purchase emission reductions at the lowest possible cost while contributing to sustainable development in the host country. However, the CDM has come under fire for not living up to its claims. Both the emission reduction claims and sustainable development benefits have been questioned. Each developing country under the CDM sets its own requirements for fulfilling sustainable development requirements that are inline with its development priorities. Thailand has relatively more strict requirements than many other countries, and this study analyzes whether these requirements have contributed to greater development benefits from CDM projects in Thailand. Through analysis of project design documents (PDDs) and interviews with private sector project developers, local stakeholders, and public sector actors, results show that while projects have contributed somewhat to local sustainable development, these benefits are constrained by a number of factors, including their small-scale, market effects, and by policy challenges.
