Study on Financing the Destruction of Unwanted Ozone-Depleting Substances through the Voluntary Carbon Market
This report was prepared by Investment Climate Facility (ICF) international with direction from World Bank's Montreal protocol unit and the project team. While Montreal protocol has achieved remarkable success in reducing production and consum...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/211551468338389844/Study-on-financing-the-destruction-of-unwanted-ozone-depleting-substances-through-the-voluntary-carbon-market http://hdl.handle.net/10986/27899 |
| Summary: | This report was prepared by Investment
Climate Facility (ICF) international with direction from
World Bank's Montreal protocol unit and the project
team. While Montreal protocol has achieved remarkable
success in reducing production and consumption of ozone
depleting substances (ODS) worldwide, a significant amount
of ODS still remains in equipments, products, and
stockpiles. This report finds that significant opportunity
exists for destroying ODS through the voluntary carbon
market. The high global warming potential (GWP) of ODS means
that their destruction has the ability to generate
significant volumes of carbon credits, which could then be
sold in the voluntary carbon market. Using the voluntary
market is likely a win-win opportunity; incentives are
created for the recovery and destruction of ODS through the
carbon credits that can be earned, and the buyers pay for
real and verifiable emission reductions from the destruction
of ODS that would have otherwise been emitted. |
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