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Valuing the sustainable development co-benefits of climate change mitigation actions
Nationally appropriate mitigation actions (NAMAs) have gained increasing interest as a tool for countries to promote climate change mitigation actions in the context of national sustainable development strategies. NAMAs have the potential to be a meaningful and powerful driver of sustainable development in developing countries. In order to do so, NAMAs should maintain or Improve what has worked within the clean development mechanism (COM) and address its Iimltatlons.
Thi COM has been particularly successful with projects with high relative greenhouse gas (GHG) emlglon reductions (such as large scale industrial projects), but did not work for projects with hlgt co-benefits" (such as small-scale community-based projects). One of the reasons for this is that#he CDM only monetizes GHG emission reductions. However, this is just one source of "value to @0lety". Good projects have many other sources of value that should be unlocked, recognized qt led and, if possible, monetized.
In this context, we believe that a meaningful framework for the promotion of projects with a high degree of co-benefits, via valuing co-benefits and getting the incentives right, ought to be a the centre of NAMA design. Such an approach holds considerable relevance in the context of both the United Nation Framework Convention on Climate Change (UNFCC) and the globa sustainability agenda, including the post-215 development agenda
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