CDM as a Solution for the Present World Energy Problems (An Overview with Respect to the Building and Construction Sector)

Abstract

One of the important responses of Kyoto Protocol towards mitigation of global warming is the Clean Development Mechanism (CDM), which has garnered large emphasis amidst the global carbon market in terms of Certified Emission Reductions (CERs). While CDM aims to achieve sustainable development in the energy production and its consumption in developing countries, the results achieved through its implementation are still uncertain. Presently, the domestic and commercial buildings are responsible for more than one third of the total conventional energy use and associated greenhouse gas emissions. The Inter-governmental Panel on Climate Change (IPCC) stated that, the building sector has the largest potential for significantly reducing greenhouse gas emissions. This paper envisages the important aspects such as, the non-inclusion of construction sector projects in CDM and its reasons, the role of energy efficiency buildings in the energy conservation arena and the new challenges being faced, while implementing the CDM portfolio in building energy sector.