| The characteristics of climate change create unique legal challenges, and inform what legal responses are appropriate. Climate change is a global problem necessitating a global response. The innovation of CDM is considered as one of the key approaches that countries will utilize in addressing globally warming. CDM has a dual purpose to assist:developing countries "in achieving sustainable development" while industrialized countries in achieving compliance with their emission limits. The article provides with a brief overview and evaluation on CDM within international climate change regime, so as to define CDM as a method of reducing global greenhouse gas emissions. After reviewing CDM activities in the worldwide and in China, it concludes by offering recommendations for the improvement of the CDM in a post-2012 climate regime, also for China.For that, the whole article consists of 7 chapters and a conclusion.Chapter one begins with the overview of the global situation of climate change to make beddings for introduction of CDM. Since the beginning of the Industrial Revolution, atmospheric concentrations of carbon dioxide have risen increasingly, which is mainly attributable to human activities. By revealing such dangerous adverse impacts, the first segment calls for the urgency of international climate control. The core of present climate change regime is the Kyoto mechanism. CDM, which is based on emissions trading market, has built up a bridge between developed and developing countries, with the international economic, political and environmental multiple attributes. The biggest characteristic of CDM is "win-win" and voluntary. In the next, on the denotation and connotation of the CDM understanding, the article illustrates the basic system of CDM including the management system and operation rules and procedures. Then it points out that the CDM legal system is unique in parallel model of its international and domestic double regulation system.The second chapter concentrates on a theoretical perspective of CDM law basis. The first quarter starts from the international legislation which establishes international rules and system of the CDM, such as important meetings and conferences, so as to outline the gradual development and continuous process on improvement. The second segment explores theoretically to lay the foundation for the whole essay. Based on the related rules of international law and the CDM, it points out the international climate cooperation is the international trend of CDM, for CDM is the only contact between developing countries and developed countries. Though the sustainable development is the purpose and value of the CDM, the principle of common but differentiated responsibilities is the very feature which makes CDM different from other greenhouse gas emission reduction mechanism.The third chapter discusses the specific questions of current practice of the CDM project. In order to reveal the obstacles clearly in implementing CDM, this chapter elaborates the legal basis of CDM ERPA, the core of CERs and the key problem of technology transfer. Through the analysis of CDM practice concerning specific legal issues, it puts forward some related comments on CDM. On this basis, this chapter analyses the project dilemma. Except for the deficiencies in legal system and management inside, CDM has been confronted with the risk of commercial running, also the skeptics of whether it can truly promote sustainable development or realize real reduction.The fourth chapter draws some enlightenment by comparison the external system design of the CDM with EU ETS. Through the analysis of the practical aspects of Kyoto mechanism, it can be seen that the design of the CDM and EU ETS would be two main innovations of the international climate system. However, within the EU, CDM is considered only as a supplementary mechanism. In terms of resource integration and the single market running, EU ETS has shown its unmatched flexibility, which poses challenge to the CDM. Accordingly, how to coordinate the contradiction about CDM between market mechanism with international trade and regional international law would be the urgent task of the CDM reform in Post-Kyoto times.The fifth chapter refers to professional level, by using international law knowledge to debate the international political uncertainty, the limitations of law and the implementation effect, to expound the challenges to CDM. Both the calculation of greenhouse gases measurement and the uncertainty of CDM legal system have great impact on CDM effect. While the international climate talks are fundamentally decided by developed countries through the diversification benefits pattern in determination of the Post-Kyoto mechanism, the emerging seventy-seven-group countries and developing countries, including China, are growing powerful, which will promote the process of democratic governance. This chapter points out that the limitation of the CDM law lies in the lack of effective legal guarantee mechanism, because of the soft law attribute and the defect of protocol mechanism.The sixth chapter, based on situation and reason of CDM, gives prospects on the reform of Post-Kyoto CDM. The negotiation has experienced long journey form Montreal roadmap to Copenhagen agreement. Although it had made some success, it remains serious conflicts on the share of responsibility and emission reduction targets. Though the international community has not reached the agreement about the second period promise, with substantial development in international carbon market gradually, the existing CDM management system apparently cannot satisfy the requirement of growth. The reform is imperative. To extend the lifetime of the CDM, the future development must be improved on existing mode. CDM rules shall be committed to revised, in addition to the enhancement of administrative efficiency and reduction of project risk by strengthening the developed countries’ financial and technology-transfer aid, in order to achieve the fair distribution.The seventh chapter presents the situation of CDM in China and proposes advices on perfecting China’s policies and laws of CDM. Along with the rapid economic development, China as a potential discharge powers must prepare for reduction duty on greenhouse gas emission. In country level, we shall strengthen legislation and the relevant rules modification of the CDM project. Secondly, we should further perfect the CDM project management mechanism to improve the comprehensive benefits and promote the ability of sustainable development, also to improve the CDM market mechanism. During international negotiations, we should always be adhering to the principle of common but differentiated responsibilities, to struggle for the initiative for negotiation and strengthen the international intercourse and cooperation.Finally, the article makes conclusion that the further research from the perspective of international law on CDM may promote the development of the theory of international law and make preparation for the reform attempt. The article also believes that, in the present situation, China should be early prepared for the second stage ready for duty reduction. |
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