bond sharife makoba ccs seminar 11 july 2012

8/13/2019 Bond Sharife Makoba CCS Seminar 11 July 2012

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Patrick Bond,

Khadija Sharife andGcina MakobaUniversity of KwaZulu-atal

School of Built !nviron"ent and#evelo$"ent Studies, #urban

$resented to theUKZ %entre for %ivil Society

&& 'uly ()&(

cartoons b Za iro

#urban cli"ate

and trash $olitics*deco""issionin+ the

Bisasar oad %lean#evelo$"entMechanis", and

e$lorin+ dis$osalalternatives,botto"-u$

.he case a+ainst

Bisasar oad %#M

Patrick Bond and

Khadija SharifeUniversity of KwaZulu-atalSchool of #evelo$"ent Studies and

%entre for %ivil Society, #urban

$resented to the

/nternational Society for

!colo+ical !cono"ics

&0 'une ()&(

cartoons by Za$iro

The CDM in Africa

C annot Deliver the Money Why the carbon trading gamble won’tsave the planet from climate change,

and how African civil society is resisting

A report by the University of Kwa!l!"#atal Centre for Civil $ociety %$chool of &!ilt 'nvironment and

Development $t!dies( and Dartmo!th CollegeClimate )!stice *esearch +roect

A!thors-.idelis Allen %#igeria(

&ar!ti Amisi %Dem/ *ep!blic of Congo(+atric0 &ond %$o!th Africa(

Keith &r!nner %U$A(*!th Castel"&ranco %Mo1ambi2!e(

Michael Dorsey %U$A( Alm!th 'rnsting %3ermany(3erardo 3ambira11io %U$A(Terri 4athaway %Cameroon( Adrian #el %#ew ealand(

Will #ham %Canada(Khadia $harife %$o!th Africa(

')56T editor- 6eah Temper %$pain(')56T reviewer- )oan Martine1"Alier %$pain(

http-77cdmscannotdeliver/wordpress/com7

why trade in $ollution1

2orld Bank co""ends3i"$eccable4 lo+ic

#5.!* #ece"ber &(, &66&.7* #istribution8* 9awrence :; Su""ers

3/ think the economic logic behind d!mpinga load of to8ic waste in the lowest wage

co!ntry is impeccable and we should faceu$ to that< 5frica is vastly !nder $olluted4=$re$arin+ for ori+inal io !arth Su""it, secret "e"o of Bank chiefecono"ist 9arry Su""ers, later US .reasury Secretary and 7ba"a4s

econo"ic "ana+er > full "e"o* www;whirledbank;or+?

Bra@ilian environ"ent "inister 'osA 9ut@enber+er*

9:o!r reasoning is perfectly logical

b!t totally insane/; %ollor fired 9ut@enber+er Su""ers beca"e US .reasurySecretary, President of :arvard and 7ba"a4s econo"ic c@ar

3wisely use natural resources

while su$$ortin+ the robust

+rowth develo$in+ countriesstill need< Cto "ove the

econo"yD away fro"

subo$ti"alities and increase

efficiency > and hencecontribute to short-ter"

+rowth > while $rotectin+ the

environ"ent;4

May ()&(

not mentioned by &an0-

< financial spec!lation in

commodities and nat!re,

< e8port"led growth, or< irrationality of so m!ch

international trade,

incl!ding wasted b!n0er

f!el for shipping

at the %entre for %ivil Society,we don4t a+ree, so we hel$ed"ake a fil" =&;E "illion views?*

www;storyofca$andtrade;or+

fil" critiFue of carbon tradin+

www;storyofca$andtrade;or+

b!t ban0s are

desperateUK Climate Change Minister

3reg &ar0er, =>?>-@We want the City of

6ondon , with its !ni2!e

e8pertise in innovative financial prod!cts, to

lead the world and

become the global h!b for green growth finance/

We need to p!t the s!b" prime disaster behind !s@

but the sub-$ri"e disaster isn’t going away

Source: IMF, Global Financial Stability Report , April 2010

neither are derivatives or B!antitative 'asing’ bailo!ts

wealthy +overn"ents4 debt

reaches =$olitical? ceilin+

vast increase

mainly reflects

bailo!t of U$

and '!ropeanban0s in late

financiers now des$erate to

co""odify every thin+

we thin0 of

carbontrading asprivatising

the air’-

howdoes

carbontrading

in &660, US vice-$resident 5l Gore=later a carbon trader? $ushed for

Kyoto to include e"issions "arkets

3ore contin!ed to fib-The '!ropean Union hasadopted this U$ innovationand is ma0ing it wor0

effectively there/’ = An Enconvenient Tr!th, $; (E(?

carbon trading gamble-

in echan+e for 2ashin+ton4s su$$ort

%promise bro0en by FG"> vote in U$ $enate, ?FF(

impossible to finance renewableenergy with s!ch low carbon prices

e"issions "arket crashes, ())-&(

())6 H5. fraud, ()&) resale fraud, ()&& theft-closuredoes !U carbon tradin+

3work effectively41

The &avarian $toc0 '8change will cease its emissions certificate trading

operations on H> )!ne =>?=/ After the vol!me of trading on '!ropeanstoc0 e8changes has pl!nged to practically 1ero in recent months,

emissions trading lac0s the preconditions necessary to establish

li2!id trading operations/ #!mero!s reasons have been cited forthe decline, ranging from the waves of emissions certificate theft

and IAT fra!d that devastated the image of emissions trading to

the pl!nge in trading prices when a gl!t of largely free certificatesswamped the mar0et/ @En its present form, emissions trading is not

accepted by the mar0et/ 3iven the sit!ation in &r!ssels, the !ncertainty ca!sed by

the '!ro1one debt crisis and the gloomy economic prospects ahead, we do not anticipate

that politicians will ta0e rapid action to ad!st framewor0 conditions@, stated Dr/ Christine&ortenlJnger, Director of &ayerische &rse A3/ htt$*IIwww;bayerische-boerse;deI+reen"arketI$resse;ht"l

Munich, May ((, ()&(

&avarian $toc0 '8changeanno!nces e8it from emissions trading

%an /!.5

defend !.S1

htt$*IIcd"scannotdeliver;word$ress;co"

how is carbon tradin+

affectin+ 5frica1

Many sites of emissions in Africa L e/g/,

methane from rotting r!bbish in

landfills , flaring of gas from oile8traction, coal"b!rning electricity

generation, coal"to"li2!id and gas"to"

li2!id petrole!m refining,

deforestation, decomposed vegetationin tropical dams L re2!ire !rgent

attention, as do the proliferation of

false sol!tions’ to the climate crisis

s!ch as mega"hydro power, tree plantations and biof!els/ Across Africa,

the CDM s!bsidi1es all these

dangero!s for"profit activities, ma0ing

them yet more advantageo!s tom!ltinational corporations which are

mostly based in '!rope, the U$ or

$o!th Africa/

CDM players

Niger Delta gas flaring

Tanzanian timberplantations

Ugandan forestsand plantations

Mozambican fuel-switch

DRC mega-dam

Many sites of emissions in Africa L e/g/,

methane from rotting r!bbish in

landfills , flaring of gas from oil

e8traction, coal"b!rning electricity

generation, coal"to"li2!id and gas"to"

li2!id petrole!m refining,

deforestation, decomposed vegetation

in tropical dams L re2!ire !rgent

attention, as do the proliferation of

false sol!tions’ to the climate crisis

s!ch as mega"hydro power, tree plantations and biof!els/ Across Africa,

the CDM s!bsidi1es all these

dangero!s for"profit activities, ma0ing

them yet more advantageo!s tom!ltinational corporations which are

mostly based in '!rope, the U$ or

$o!th Africa/

*eport contents-• Chapter 5ne sets the conte8t for the carbon mar0ets and

the CDM mechanism, revealing its contin!ing price collapse

and gloomy f!t!re prospects/• Chapter Two maps the players in CDM mar0ets and

vol!ntary schemes/

Chapters Three thro!gh 'ight are the case st!dies,

beginning with $o!th Africa’s pilot CDM fra!d and

environmental racism in D!rban’s &isasar *oad landfill

methane"electricity proect, along with similar trends in'gypt/

• Chapter .o!r dissects the case of #igerian CDM corr!ption

of local governance, especially where oil companies are

receiving s!bsidies for red!cing their #iger Delta gas flaring

L an act which by law they are prohibited from doing in the

first place/• Chapter .ive addresses the emergence of trees, plantations

and forests within CDM financing debates, with cases from

Uganda, Mo1ambi2!e, the D*C, Tan1ania and Kenya/

• Chapter $i8 is abo!t two failed CDM proposals both

involving e8ploitation of Mo1ambi2!e’s gas reserves/

• Chapter $even disc!sses the way mega"dams are being

lined !p for CDM stat!s, with case st!dies from 'thiopia

and the D*C/

• Chapter 'ight considers the rise of the Kenyan and

Mo1ambican )atropha biof!el ind!stries

Source: http://cdmpipeline.org/cdm-projects-region.htm

where are %lean #evelo$"ent Mechanis" $rojects funded1

%hina and /ndia have been +arnerin+ J)L of %#M $rojects

i d# b S th 5f i

Bisasar oad

conversion of"ethane-to-electricityat environ"entally-

racist toic du"$

5frica4s lar+est landfill

$laced in black residentialsuburb =%lare !state? bya$artheid "unici$ality

refused to close it thanksto 2orld Bank ())(invest"ent hy$e*

W& +rototype Carbon .!ndemissions red!ctions credits

#urban, South 5frica*&E "illion %#M $ilot

Sajida Khan’sfamily home

Sajida Khan =&6E(-())0?thou+h felled by cancer fro" du"$, she had co-hosted 3#urban Grou$ for %li"ate 'ustice4 =())N?

and her challen+e to Bisasar "ethane flarin+te"$orarily rebuffed 2orld Bank in ())E

proect went ahead in =>> even tho!ghD$W’s additionality’ claim was a lie

Concl!sion b %entre

Concl!sion to re$ort by %entrefor %ivil Society O #art"outh

%olle+e for

@the system sho!ld bedecommissioned and at

minim!m, a moratori!m be placed

on f!rther crediting !ntil the

profo!nd str!ct!ral and

implementation flaws are

confronted/ The damage done by

CDMs to date sho!ld be incl!ded incalc!lations of the climate debt’

that the #orth owes the $o!th, with

the aim of having victims of CDMs

compensated appropriately/@

h l i t k U8%%%

hel$in+ to "ake U8%%%

%#M $olicy* Halli Moosa• &isasar *d landfill was internally approved in early =>>>s

when Moosa was $A’s environment ministerN• Moosa sho!ld have fo!ght environmental racism by sh!tting &isasar *d

and compensating victims, instead of approving CDM th!s 0eeping it open N

• Moosa then became chair of 's0om and was also r!ling party’s .inance

Committee member L acting improperly’ %$A +!blic +rotector’s office(when approving O billion Med!pi coal"fired plant crony contract that

rewards A#C P while 4itachi7A#C boilers will be delivered

a year late, th!s threatening wave of power blac0o!tsN• in addition to corr!ption and e8treme contrib!tions to

climate change, 's0om also proposed Med!pi for CDMN

• Moosa is in conflict of interest in many respects and sho!ld not be

permitted to chair or serve on any U#.CCC CDM +olicy Dialog!e panelhttp://www.cdmpolicdi!logue.org/p!nel

Moosa4s a$$roach unveiled in

$o!th Africa’s CDM +olicy "ep!rtment o# $n%ironment!l A##!irs !nd &ourismNational Climate Change Response Strategy , Septem'er 200(

Et sho!ld be !nderstood !p"front

that CDM primarily presents arange of commercial opport!nities ,

both big and small/ This co!ld be avery important so!rce of foreign

direct investment ///’

$A ff ld’ h l i i

$A offers world’s cheapest electricity tometals smelters " phase"o!t needed

's0om bragged in =>>Fann!al report, tho!gh as a

res!lt, O?/=bn =>>F"?> losses

Major sites for neoliberal plus

sustainable dev. discourses

UNFCCCUNFCCCUNFCCCUNFCCC

str!ct!ral problem-national

self"interest at U# C5+s

ei+ht fatal flaws of carbon tradin+

ei+ht fatal flaws of carbon tradin+• inventin+ $ro$erty ri+ht to $ollute is effectively 3$rivati@in+ air4, a

"oral dile""a +iven un$recedented ineFuality• G:Gs have non-linear i"$act, not reducible to co""odity echan+e

=a tonne of %7( $roduced at 34 not sa"e as a tonne reduced at 3Q4?

• the cor$orations "ost +uilty of $ollution, and the 2orld Bank ="ostres$onsible for fossil fuel financin+?, are the "arket4s drivin+ forces >and the United ations is !tterly incompetent at re+ulation

• "any offsets > e;+; "onocultural ti"ber $lantations, forest3$rotection4, landfill "ethane-electricity > devastate localco""unities and ecolo+ies

• $rice of carbon in these "arkets is haywire, not least due tocorru$tion, fraud and theft > with no $ros$ect of re+ulation

• dan+erous $otential for "arkets to beco"e "ulti-trillion dollars$eculative bubbles, si"ilar to other eotic financial instru"ents

• encoura+es s"all incre"ental shifts, distractin+ us fro" bi+ chan+esneeded across econo"y, ener+y, trans$ort, consu"$tion, dis$osal

3"arket solutions for "arket failure4 is not an a$$ro$riate ideolo+yafter the world4s worst-ever financial "arket failure

)cin! M!*o'! on In!nd!

!nd the origins o# ru''ish

ser%ice deli%er

S*ippers,!re we 'eing s*ipped or++

we !re to s*ip++

or it is the di%ision o# cl!ss

ho is p!ing the price

i%ing in hope

%ollect Buy back centres

bond sharife makoba ccs seminar 11 july 2012

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