Library Resource
January, 2012
Latin America and the Caribbean
Market solutions based on the trade of carbon offset credits remain a dominant feature in international climate change negotiations. This paper undertakes a preliminary assessment of potential of climate change mitigation projects by evaluating Clean Development Mechanism (CDM) projects related to agriculture and land use change in Latin America. Results suggest that potential benefits of carbon markets in the agriculture and forestry sectors are often overstated, with failures in the areas of additionality, project accountability and sustainable development.