Study on Financing the Destruction of Unwanted Ozone-Depleting Substances through the Voluntary Carbon Market

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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Bibliographic Details
Main Author:	ICF International
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	AIR ALLOWANCE ALLOWANCE MARKETS ALLOWANCES ARGON ATMOSPHERE AUCTION AVERAGE PRICE CALCULATION CARBON CARBON CREDIT CARBON CREDITS CARBON DIOXIDE CARBON EMISSIONS CARBON FINANCE CARBON MARKET CARBON MARKETS CARBON OFFSET CARBON OFFSETS CARBON REDUCTIONS CARBON TETRACHLORIDE CFC12 CFCS CH4 CLEAN AIR CLEAN AIR ACT CLIMATE CLIMATE CHANGE CLIMATE LEGISLATION CO2 COMPETITIVENESS CONDITIONERS DECREASE IN EMISSIONS ELECTRICITY EMISSION EMISSION REDUCTION EMISSION REDUCTION TARGETS EMISSION REDUCTION UNITS EMISSION REDUCTIONS EMISSION TARGETS EMISSION TRADING EMISSIONS EMISSIONS LIMITS EMISSIONS REDUCTIONS ENERGY INDUSTRIES ENVIRONMENTAL PROTECTION FEASIBILITY FOAM FOAMS FORESTRY FRAMEWORK CONVENTION ON CLIMATE CHANGE GAS GAS PROJECT GASES GHG GHGS GLOBAL CARBON MARKET GLOBAL ENVIRONMENT GLOBAL ENVIRONMENT FACILITY GLOBAL WARMING GLOBAL WARMING POTENTIAL GOLD GREENHOUSE GREENHOUSE GAS GREENHOUSE GASES GWP HALON HALONS HAZARDOUS WASTE HCFC HFC HFCS IMPORTS INCINERATION INCOME INDUSTRIAL GAS INTERNATIONAL EMISSIONS INTERNATIONAL ENVIRONMENTAL TREATIES INTERNATIONAL FINANCIAL INSTITUTIONS IPCC MARKET STRUCTURE MARKET STUDY MARKET TRADING MARKETPLACE METHANE METHYL BROMIDE MONTREAL MONTREAL PROTOCOL MONTREAL PROTOCOL ON SUBSTANCES THAT DEPLETE THE OZONE LAYER N2O NITROGEN NITROUS OXIDE ODS OFFSET CREDITS OFFSET PROGRAM OFFSET PROJECTS ORGANIC POLLUTANT ORGANIC POLLUTANTS OZONACTION OZONE OZONE DEPLETING POTENTIAL OZONE DEPLETING SUBSTANCES OZONE SECRETARIAT OZONE UNIT PENALTIES PERFORMANCE STANDARDS PFCS POLYCHLORINATED BIPHENYLS POLYSTYRENE PORTFOLIO POWER SECTOR PURCHASING REBATES REFRIGERATION REFRIGERATOR REFRIGERATORS REGIONAL GREENHOUSE GAS INITIATIVE RETAIL SALE SALES SCENARIOS SF6 STOCKS SUBSTITUTES SUPPLY SIDE SURPLUS TOTAL COST TOTAL COSTS TRADABLE CARBON TRADE SYSTEM TRANSACTION COSTS TURNOVER UNEP UNINTENDED CONSEQUENCES UNITED NATIONS ENVIRONMENT PROGRAMME VCM WAREHOUSES WHOLESALERS
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

Description
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.