O Protocolo de Quioto institucionalizou políticas de metas de redução das emissões de gases de efeito estufa (GEE) aos países signatários que fazem parte do Anexo I. Para efetivar essas políticas foram estabelecidos três mecanismos de flexibilização: implementação conjunta (IC), mecanismo de desenvolvimento limpo (MDL) e comércio internacional de emissões (CIE). Os países com economia em desenvolvimento contribuem através do MDL, ao desenvolver projetos que geram créditos de carbono. A União Europeia criou o Esquema de Comércio de Emissões (EU ETS) para comercializar esses créditos, tornando-se o principal ambiente mundial do mercado de créditos de carbono. Desde a criação do EU ETS, o volume de negócios tem crescido anualmente. Entretanto, até final de 2012 havia a incerteza sobre a continuidade do Protocolo de Quioto, quando na Conferência de Doha (COP-18) foi decidido que esse acordo continuará até o ano de 2020 e um novo acordo mundial será negociado a partir de 2013. Sobre esse novo acordo há discussões sobre quais países devem ter metas de emissões de GEE, quais setores e metodologias são elegíveis para os projetos de MDL e como devem funcionar. Ainda, discute se haverá demanda pelos créditos de carbono provenientes de projetos de MDL. Neste contexto, esta tese teve como objetivo analisar as políticas do mercado de créditos de carbono, considerando a demanda desses créditos pela Europa para o período de 2013 a 2020 e a contribuição do Brasil para a compensação das emissões excedentes de GEE, a partir de um modelo baseado em dinâmica de sistemas. A hipótese dinâmica do modelo sugere um comportamento de equilíbrio entre as emissões de GEE na Europa e os créditos de carbono provenientes dos projetos de MDL. A hipótese dinâmica também sugeriu cinco pressupostos, cujos resultados foram: i) o produto interno bruto da Europa não é o único fator causal das emissões de GEE; ii) a Europa tem condições de atingir suas metas de redução de emissões de GEE até o ano de 2020; iii) o aumento do preço dos créditos de carbono não tem relação causal direta com o aumento das emissões de GEE; iv) o preço dos créditos de carbono não tem relação de causa-efeito com a quantidade de projetos de MDL desenvolvidos no Brasil e; v) é ínfima a contribuição do Brasil para a compensação das emissões de GEE na Europa. As análises das políticas vigentes no mercado de créditos de carbono indicam que até 2020: i) a emissão de GEE pela Europa não terá grandes variações, reforçando que as metas de redução destas emissões serão atingidas; ii) o Brasil, como país hospedeiro de projetos de MDL, reduzirá ainda mais a sua participação neste mercado confirmando expectativas da Convenção Quadro das Nações Unidas sobre Mudança do Clima e; iii) não é esperado um aumento na taxa de sucesso na captação de GEE pelos projetos de MDL desenvolvidos no Brasil. As principais conclusões são: o comportamento de equilíbrio do modelo é congruente ao propósito do Protocolo de Quioto; a Europa tem papel dominante no mercado de carbono que, no longo prazo, pode preponderar sobre as políticas a serem traçadas para o novo acordo mundial e; se as políticas brasileiras de apoio aos projetos de MDL forem mantidas, a participação do Brasil no mercado de carbono tende ser cada vez menor e atingir o patamar de economia limpa e sustentável. / The Kyoto Protocol established policies of targets for reducing greenhouse gas (GHG) emissions by countries that are parties to Annex I. In order to put these policies in practice, three flexible mechanisms have been set: Joint Implementation (JI), Clean Development Mechanism (CDM) and Emissions Trading (CIE). Countries with developing economies contribute through CDM, by developing projects that generate carbon credits. The European Union has created the Emissions Trading Scheme (EU ETS) to trade these credits, making it the main platform of the worldwide carbon credit market. Since the creation of the EU ETS, turnover has increased annually. However, until late 2012 there was uncertainty about the continuity of the Kyoto Protocol. It was decided in the Doha Conference (COP-18) that the agreement will continue until 2020. The COP-18 also decided that a new worldwide agreement will be negotiated starting in 2013. There have been discussions about this new agreement over which countries should have GHG emissions targets, which sectors and methodologies are eligible for CDM projects and their scope. Moreover, it is unknown whether there will be demand for carbon credits generated by CDM projects. In this context, this thesis aims to analyze the policies of the carbon credit market, considering demand for these credits in Europe between 2013 and 2020, and Brazil’s contribution to offset excess GHC emissions, using a model based on system dynamics. The dynamic hypothesis of the model suggests equilibrium between GHG emissions in Europe and carbon credits originating from CDM projects. It also suggests five assumptions, and the results were: i) the gross domestic product od Europe is not the only causal factor of GHG emissions, ii) Europe is able to meet its targets to reduce GHG emissions by 2020; iii) the higher price of carbon credits has no cause-effect relationship with the increase in GHG emissions; iv) the price of carbon credits has no cause-effect relationship with the number of CDM projects developed in Brazil, and; v) Brazil's contribution towards offsetting GHG emissions in Europe is minimal. Analyses of the prevailing policies in the carbon market indicate that by 2020: i) GHG emissions in Europe will not vary widely, reinforcing that the targets of reducing these emissions will be achieved, ii) Brazil, as a host country of CDM projects, will further reduce its participation in the carbon market, confirming expectations of the United Nations Framework Convention on Climate Change, and; iii) an increase is not expected in the success rate of capturing GHG by CDM projects developed in Brazil. The main conclusions are: goal-seeking behavior of the model is consistent with the purpose of the Kyoto Protocol, Europe plays a dominant role in the carbon market, which may prevail in the long term over the policies of the new worldwide agreement, and, if Brazilian policies for CDM projects are maintained, Brazil's participation in the carbon market tends to steadily decline and reach a plateau of a clean and sustainable economy.

O novo cenário da macroeconomia e os freqüentes alertas daqueles que estudam o meio ambiente trazem a luz outros fatores que devem ser respeitados num processo de tomada de decisão para qualquer investimento a ser realizado. Neste sentido vem se consolidando o Mercado de Crédito de Carbono no mundo, que se por um lado viabiliza a implantação de um empreendimento por admitir a compensação ambiental, por outro pode viabilizá-lo disponibilizando recursos para a sua instalação e operação. A geração de Crédito de Carbono, isto é, Redução Certificada de Emissões (RCE) e o aporte de recursos no sistema empreendimento em função da negociação dos créditos no Mercado de Carbono, pode se caracterizar em fonte de funding de empreendimentos de geração de energia elétrica no Brasil. Sendo assim, o objetivo desta pesquisa é a montagem de um protótipo de Pequena Central Hidrelétrica - PCH, tendo por base o project finance, enquanto estratégia de investimento e estrutura de negócio e adequado aos padrões do MDL no Brasil visando verificar a viabilidade de utilização das RCEs para compor o funding desses empreendimentos e, consequentemente, a validação de investimentos em geração de energia. Dessa forma, fornecerá as referências necessárias para a análise econômica e financeira do investimento em empreendimentos dessa tipologia. Após a análise dos indicadores da qualidade do protótipo é possível afirmar que com a criação do MDL e outros mecanismos promovidos por ele, os empreendimentos de geração de energia o tipo PCH tornaram-se atrativos para investidores típicos que buscam renda estável e de longo prazo, e o setor elétrico brasileiro sofreu mudanças em sua matriz, onde o crescimento de investimentos em fontes alternativas de energia é uma realidade. / The new scenery of macroeconomics and the alerts frequents of those that study the environment brought up other factories that must be respected in a decision process in any investment to be carried through. In this direction it is coming to consolidate the Market of Carbon Credit in the world, that if on the other hand makes possible the implantation of an venture for admitting the environmental compensation, for another one it can make possible have the resources available for its installation and operation. The generation of Carbon Emission Reduction (CERs) and input of resources in the enterprise system according to the trading of credits at the Carbon Market can be characterized source of funding for projects to generate electricity in Brazil. Therefore, the objective of this research is the assembly of a prototype of small hydroelectric - PCH, based on project finance, as investment strategy and business structure and appropriate standards of the CDM in Brazil to check the feasibility of using CERs to compose the funding of these projects and hence the validation of investment in power generation. Thus, it will provide the necessary references to the economic and financial analysis of investment in projects of this type. After analyzing the indicators of the quality of the prototype is possible to say that with the creation of the CDM and other mechanisms promoted by him, the development of power generation type SHP became attractive to the typical investors who seek steady income and long-term and the Brazilian electric sector has undergone changes in their type, where the growth of investments in alternative energy sources is apparent.

Desde a revolução industrial, ações não sustentáveis provenientes das atividades industriais, econômicas e de consumo têm provocado mudanças na biosfera devido ao aumento dos gases de efeito estufa (GEE) na atmosfera, o que faz com que a mudança climática seja um dos maiores desafios do século XXI. Frente a isso, foi adotado em dezembro de 1997 o Protocolo de Quioto, que prevê em seu artigo 12 o Mecanismo de Desenvolvimento Limpo (MDL). Sob este mecanismo enquadram-se atividades de projeto que propõem a técnica de biodigestores em granjas para captação e queima do biogás produzido como resultado da degradação do dejeto. A presente pesquisa tem como objetivo analisar a viabilidade de implantação de biodigestores para tratamento de resíduos da suinocultura em diferentes escalas considerando dois cenários: (1) a inserção da atividade do projeto no Mecanismo de Desenvolvimento Limpo e (2) a geração própria de energia elétrica a partir do biogás, considerando os três sistemas de produção Unidade Produtora de Terminação (UPT), Unidade Produtora de Leitão (UPL) e Unidade Produtora Ciclo Completo (UPC). Trata-se de uma pesquisa de natureza exploratória-descritiva realizada com base em análise documental e entrevistas com atores chaves do mercado de carbono. Após o levantamento destas informações, foram calculados os indicadores financeiros para uma análise comparativa dos cenários avaliados. Observou-se que a rentabilidade financeira nos diferentes tamanhos de plantéis é maior para o cenário de geração e auto-consumo de energia elétrica do que para a inserção da atividade do projeto no MDL. / Since the industrial revolution, unsustainable industrial, economic and consumption activities have caused changes in the biosphere due to increase of greenhouse gases (GHGs) in the atmosphere, which means that climate change is one of the biggest challenges of XXI century. In face of that, the Kyoto Protocol was adopted in December of 1997, which stipulates in its article 12 the Clean Development Mechanism. Under it is included biodigestor techniques to capture and burn the biogas produced, as a result of the pig waste degradation. This study proposes analyze the feasibility of implementation of biodigestors for residues treatment in the swine farms at different scales by considering two scenarios: (1) the insertion of the project activity in the Clean Development Mechanism and (2) the generation of electrical energy from biogas for the three production systems (UPT, UPL and UPC). This study is a descriptive exploratory research based on documental analyzes and interviews hold with key actors involved in the carbon market. Then, to compare the feasibility from both scenarios evaluated in this study, financial indicators were calculated. As result, the finance profitability of different scales considered in this research is higher for self- generation and power consumption than for CDM project activity.

O Protocolo de Quioto institucionalizou políticas de metas de redução das emissões de gases de efeito estufa (GEE) aos países signatários que fazem parte do Anexo I. Para efetivar essas políticas foram estabelecidos três mecanismos de flexibilização: implementação conjunta (IC), mecanismo de desenvolvimento limpo (MDL) e comércio internacional de emissões (CIE). Os países com economia em desenvolvimento contribuem através do MDL, ao desenvolver projetos que geram créditos de carbono. A União Europeia criou o Esquema de Comércio de Emissões (EU ETS) para comercializar esses créditos, tornando-se o principal ambiente mundial do mercado de créditos de carbono. Desde a criação do EU ETS, o volume de negócios tem crescido anualmente. Entretanto, até final de 2012 havia a incerteza sobre a continuidade do Protocolo de Quioto, quando na Conferência de Doha (COP-18) foi decidido que esse acordo continuará até o ano de 2020 e um novo acordo mundial será negociado a partir de 2013. Sobre esse novo acordo há discussões sobre quais países devem ter metas de emissões de GEE, quais setores e metodologias são elegíveis para os projetos de MDL e como devem funcionar. Ainda, discute se haverá demanda pelos créditos de carbono provenientes de projetos de MDL. Neste contexto, esta tese teve como objetivo analisar as políticas do mercado de créditos de carbono, considerando a demanda desses créditos pela Europa para o período de 2013 a 2020 e a contribuição do Brasil para a compensação das emissões excedentes de GEE, a partir de um modelo baseado em dinâmica de sistemas. A hipótese dinâmica do modelo sugere um comportamento de equilíbrio entre as emissões de GEE na Europa e os créditos de carbono provenientes dos projetos de MDL. A hipótese dinâmica também sugeriu cinco pressupostos, cujos resultados foram: i) o produto interno bruto da Europa não é o único fator causal das emissões de GEE; ii) a Europa tem condições de atingir suas metas de redução de emissões de GEE até o ano de 2020; iii) o aumento do preço dos créditos de carbono não tem relação causal direta com o aumento das emissões de GEE; iv) o preço dos créditos de carbono não tem relação de causa-efeito com a quantidade de projetos de MDL desenvolvidos no Brasil e; v) é ínfima a contribuição do Brasil para a compensação das emissões de GEE na Europa. As análises das políticas vigentes no mercado de créditos de carbono indicam que até 2020: i) a emissão de GEE pela Europa não terá grandes variações, reforçando que as metas de redução destas emissões serão atingidas; ii) o Brasil, como país hospedeiro de projetos de MDL, reduzirá ainda mais a sua participação neste mercado confirmando expectativas da Convenção Quadro das Nações Unidas sobre Mudança do Clima e; iii) não é esperado um aumento na taxa de sucesso na captação de GEE pelos projetos de MDL desenvolvidos no Brasil. As principais conclusões são: o comportamento de equilíbrio do modelo é congruente ao propósito do Protocolo de Quioto; a Europa tem papel dominante no mercado de carbono que, no longo prazo, pode preponderar sobre as políticas a serem traçadas para o novo acordo mundial e; se as políticas brasileiras de apoio aos projetos de MDL forem mantidas, a participação do Brasil no mercado de carbono tende ser cada vez menor e atingir o patamar de economia limpa e sustentável. / The Kyoto Protocol established policies of targets for reducing greenhouse gas (GHG) emissions by countries that are parties to Annex I. In order to put these policies in practice, three flexible mechanisms have been set: Joint Implementation (JI), Clean Development Mechanism (CDM) and Emissions Trading (CIE). Countries with developing economies contribute through CDM, by developing projects that generate carbon credits. The European Union has created the Emissions Trading Scheme (EU ETS) to trade these credits, making it the main platform of the worldwide carbon credit market. Since the creation of the EU ETS, turnover has increased annually. However, until late 2012 there was uncertainty about the continuity of the Kyoto Protocol. It was decided in the Doha Conference (COP-18) that the agreement will continue until 2020. The COP-18 also decided that a new worldwide agreement will be negotiated starting in 2013. There have been discussions about this new agreement over which countries should have GHG emissions targets, which sectors and methodologies are eligible for CDM projects and their scope. Moreover, it is unknown whether there will be demand for carbon credits generated by CDM projects. In this context, this thesis aims to analyze the policies of the carbon credit market, considering demand for these credits in Europe between 2013 and 2020, and Brazil’s contribution to offset excess GHC emissions, using a model based on system dynamics. The dynamic hypothesis of the model suggests equilibrium between GHG emissions in Europe and carbon credits originating from CDM projects. It also suggests five assumptions, and the results were: i) the gross domestic product od Europe is not the only causal factor of GHG emissions, ii) Europe is able to meet its targets to reduce GHG emissions by 2020; iii) the higher price of carbon credits has no cause-effect relationship with the increase in GHG emissions; iv) the price of carbon credits has no cause-effect relationship with the number of CDM projects developed in Brazil, and; v) Brazil's contribution towards offsetting GHG emissions in Europe is minimal. Analyses of the prevailing policies in the carbon market indicate that by 2020: i) GHG emissions in Europe will not vary widely, reinforcing that the targets of reducing these emissions will be achieved, ii) Brazil, as a host country of CDM projects, will further reduce its participation in the carbon market, confirming expectations of the United Nations Framework Convention on Climate Change, and; iii) an increase is not expected in the success rate of capturing GHG by CDM projects developed in Brazil. The main conclusions are: goal-seeking behavior of the model is consistent with the purpose of the Kyoto Protocol, Europe plays a dominant role in the carbon market, which may prevail in the long term over the policies of the new worldwide agreement, and, if Brazilian policies for CDM projects are maintained, Brazil's participation in the carbon market tends to steadily decline and reach a plateau of a clean and sustainable economy.

Esta dissertação trata da história e características do Protocolo de Kyoto (PK), seguido do estudo do valor, das perspectivas e da efetividade do Mecanismo de Desenvolvimento Limpo (MDL), definido pelo Artigo 12 daquele Protocolo à Convenção Quadro das Nações Unidas sobre Mudança do Clima (CQNUMC). Nesse propósito, foram desenvolvidas análises conceituais das pretensões, possibilidades, valor e mesmo das equivocações do MDL. A grande importância desse instrumento acaba demonstrada que não é o seu objetivo primeiro, de auxilio nos compromissos dos países desenvolvidos (PDs), mas sim as diversas vantagens que promove para os países em desenvolvimento (PEDs). Esse instrumento de flexibilização, que foi concebido para auxiliar o cumprimento das obrigações (redução das emissões de CO2) dos países desenvolvidos (PDs) no Protocolo, pode ir muito além, com projetos de desenvolvimento sustentável (social, econômico, étnico, cultural, técnico e ambientalmente) adequados e favorável aos PEDs. Seus projetos podem e deve travar um bom combate à pobreza, o que garante também um avanço correto na perseguição do controle das causas e efeitos das mudanças climáticas. O MDL permeia todas essas questões e constitui o instrumento já presente e de conscientização, para trazer a necessária capacidade financeira e tecnológica do Norte ao encontro do Sul para que todas essas pretensões possam ocorrer. / This paper deals with the history and characteristics of the Kyotos Protocol (KP), followed by the values study about the prospects and effectiveness of the Clean Development Mechanism (CDM), as defined by the 12th Article of the Protocol to the United Nations Framework Convention on Climate Change (UNFCCC). In this purpose, conceptual analyses were developed about the objectives, possibilities, values and even mistakes of the CDM. The great importance of this instrument had been demonstrated that it is not its first objective to help the commitments of the developed countries, but the many advantages that promotes to the developing countries. This instrument of facility, which was conceived to assist the fulfillment of the obligations (reducing CO2 emissions) of developed countries in the Protocol, can go far beyond, with sustainable development projects (social, economic, ethnic, cultural, technical and environmentally) appropriated and favorable to developing countries. Their projects can and should fight against poverty, which also ensures a correct advance in pursuit of the causes and effects control of the climatic changes. The CDM permeates all these issues and is the instrument already present and of awareness, to bring the necessary financial and technological capacity from the North to the South, allowing these claims occur.

Climate change mitigation necessitates substantial alterations to patterns of worldwide economic activity, be that reduction in demand, switches to new technology or 'end-of-pipe' abatement of greenhouse gases. There are profound political, economic and ethical questions surrounding the governance of the means, rate and location of change. Within advanced capitalist economies and internationally through the auspices of the United Nations Framework Convention on Climate Change emissions trading systems have been introduced as part of the broader neoliberal attempts to 'correct market failure' through the definition of new property rights.This thesis investigates the development, constitution and consequences of institutions for the production, exchange and consumption of credits for emissions reductions. Such credits are financial instruments awarded to organisations for putative reductions in emissions from 'business as usual'. In consumption, credits are equated with a quantity of emissions released elsewhere. The 'Instituted Economic Process' framework (Randles and Harvey, 2002) is used to distinguish the various classes of agent involved in these exchanges and identify the economic and non-economic relationships that constitute these institutions. Inspired by the economic anthropology of Karl Polanyi, this approach asks how economic activity is organised and stabilised within society without presuming that there are universal economic laws of 'the market', that there are essential properties of commodities and agents, or that all economic transfers are conducted within markets.I argue that crediting is a socially contingent process of commodification of atmospheric pollution which is both ontologically and normatively problematic. Extant institutions are shown to be precarious by appealing to neutral techno-scientific justifications but remaining reliant on subjective judgement. However, they are sufficiently consistent and credible that they persist and expand. These findings are of interest to the academic communities of political economy and environmental and economic geography, climate change policy makers and the environmental movement more broadly.

Carbon offsets have been developed as one tool to incentivise investments by developed nations in climate change mitigation activities in developing countries. The carbon offsets can be used towards the countries’ own mitigation targets but are also meant to benefit developing countries by providing a pathway to clean development. Photovoltaic water pumping (PVWP) technology is a solution to use PV for irrigation, which can be used to restore degraded grasslands and help farmers adapt to climate change. Restoration of degraded grasslands increases the production of grass and will therefore increase the amount of carbon in the soil, a process that may mitigate climate change. However, poor farmers often have limited access to irrigation technology and this thesis assesses how carbon offsets may bring revenues to increase adaption of PVWP technology in remote areas of the Chinese grasslands. PV modules can be used to mitigate climate change in different ways; the most common is to produce electricity to replace fossil fuel power capacity. The novelty of this thesis is that it assesses the alternative mitigation possibilities for the PVWP project proposed here. Further, consideration of water constraints that limit the applicability of the technology and a framework to assess the trade-offs between potential downstream water impacts and environmental co-benefits of the project add to the novelty of this thesis. Policy barriers for the project will also be considered.  Used to restore severely degraded grasslands, PVWP projects show high carbon sequestration potential and successfully compete with grid electricity as carbon offset projects. A case is analysed and it shows that the carbon market could play a role in increasing the feasibility of PVWP projects. However, water issues make project implementation very site-specific and some indicators to determine feasibility is proposed to be blue water availability, evaporation recycling ratio and water productivity. Water use must also be looked at with respect to climate, food and energy security, calling for a nexus approach to evaluate the project suitability. In May 2016, grassland management projects are excluded from the Clean Development Mechanism to the Kyoto Protocol, and this limits project implementation to the voluntary markets. / Avhandlingen är ämnad att läsas av beslutsfattare inom klimatområdet samt aktörer på de olika klimatkompensationsmarknaderna. Klimatkompensation har utvecklats som ett verktyg för att stimulera industriländers investeringar i klimatprojekt i utvecklingsländer. Klimatkompensation kan användas för att nå industriländernas egna klimatmål men är också tänkta att gynna utvecklingsländer genom att tillhandahålla en ”ren” utvecklingsmöjlighet. Solcellsdrivna vattenpumpar (eng. photovoltaic water pumping: PVWP) är en teknik för att använda solceller för bevattning. Tekniken kan användas för att restaurera degraderade gräsmarker och för att hjälpa jordbrukare anpassa sig till klimatförändringarna. Restaurering av gräsmarker ökar produktionen av gräs vilket medför ökad mängden kol i marken, en process som kan mildra klimatförändringarna. Men fattiga bönder har ofta begränsad tillgång till bevattningsteknik och denna avhandling utvärderar hur klimatkompensation kan ge intäkter för att öka användningen av PVWP i avlägsna delar på den kinesiska slätten. Solceller kan användas för att mildra klimatförändringarna på olika sätt och vanligast är att producera el för att ersätta fossila bränslen. Det är därför viktigt att titta på alternativkostnaden för PVWP-projekten som föreslås här. Vidare begränsar vattentillgången projekten och ett ramverk för att tydliggöra avvägningar mellan vattenrelaterade problem och miljömässiga fördelarna med ett projekt är nödvändigt. Klimatpolitiska styrmedel sätter också upp vissa begränsningar för projekten. Om PVWP används för att återställa mycket degraderade gräsmarker, visar projekten hög klimatnytta och de kan framgångsrikt konkurrera med solel till nätet som klimatkompensationsprojekt. En fallstudie visar att klimatkompensationsmarknaden skulle kunna spela en viss roll för att öka antalet PVWP-projekt. Däremot gör vattenfrågan projektens geografiska plats viktig och indikatorer för att avgöra genomförbarheten föreslås vara ”blåvattentillgång”, ”förångningsåtervinning” och ”vattenproduktivitet”. Vattenanvändningen måste också ses i förhållande till klimat, mat- och energisäkerhet, vilket kräver en nexusstrategi för att utvärdera projekten. I skrivande stund (maj 2016) är projekt rörande skötsel av gräsmarker exkluderade från mekanismen för ren utveckling (CDM) till Kyotoprotokollet och detta begränsar projekten till de frivilliga klimat-kompensationsmarknaderna. / <p>QC 20160711</p> / Demonstration and Scale-Up of Photovoltaic Solar Water Pumping for the Conservation of Grassland and Farmland in China

No description available.

Thesis (MBA)--Stellenbosch University, 2008. / ENGLISH ABSTRACT: The goal of this study was to investigate the feasibility of a small-scale biomass gasification system within the context of a cooperative wine cellar operation in the Western Cape of South Africa. Central to this goal was the questions whether the time for the implementation of such small-scale renewable energy technologies in South Africa has arrived, in light of the status quo which has changed drastically from the days of abundant and cheap coal-based electricity, and whether the new opportunities afforded by the CDM can help foster financial feasibility. There are various macro-drivers contributing to the current-day emphasis on renewable energy and cogeneration projects. The first and most pressing driver is the global climate change imperative, while the others include the increased aspiration of countries towards energy security, the realization of the importance of sustainable development and the subsequent renewable energy policies that falls within the ambit of sustainable development. Small-scale biomass gasification technology still poses some challenges, particularly when it comes to the gasification of agricultural residues, as with grape residues in the case of this project. The most important technical feasibility problem to overcome is the low ash agglomeration temperature of grape residues reported in the literature. Although the local equipment manufacturer foresees no problem in this regard with their system design - since they have conducted tests on sunflower seed residues, which have similar ash properties, without experiencing any agglomeration problems - the seriousness of this aspect will be confirmed during pilot trials. In order to be eligible for emissions reduction trading under the CDM, the project must adequately demonstrate that the emissions reductions are additional to the business-as-usual scenario, in both the environmental and financial sense. The project will satisfy the environmental additionality requirement, since in its absence the wine cellar will continue its full reliance on coal-based electricity from the grid. Financial additionality, in its strictest sense, requires for the project to be infeasible if it does not pursue CDM participation, which the financial feasibility modeling results indicated to be true in this case. A feasibility model was developed to - subject to the input parameter values assumed and basic assumptions made - be able to assess the financial viability of the project. The main assumptions were that the private feed-in into the national electricity grid was available to all IPPs, in spite of the fact that in its Medium Term Power Purchase Program me (MTPPP) of May 2008 Eskom had only requested expressions of interest from IPPs that had a generating capacity of 5MW and higher to install private base load capacity. This assumption is commensurate with the country's renewable energy targets and the official government aim of achieving a 30% contribution from IPPs to the national electricity mix. The second assumption was that the 65 to lOOclkWh offered by Eskom in its MTPPP will be applicable to sub-SMWe IPPs as well (Creamer, 2008), and that this lower bound electricity price of 65clkWh can be applied over the whole project lifetime. Inherent to this assumption is the further supposition that the progressive decline of electricity prices to an eventual level of 35clkWh by 2018 foreseen by Eskom will not materialize, due both to the sustained pressure an expanding South African economy will put on the considerable but time-consuming supply-side initiatives launched by Eskom, and the likelihood for price premiums to be introduced for clean electricity in order to meet the country's renewable energy targets. From the assumed input parameter values the initial capital and COM expenditures, operating revenues and costs over the project lifetime were determined, and then used to calculate the net cash flows, where after the NPV was computed to serve as the deciding criterion on financial feasibility. A discount rate of 18% was assumed, corresponding with the subjectively judged risks that the project posed as a small-scale renewable energy system within the wine cellar operations. In the case where the project excluded all CDM aspects, the NPV was negative at - ZAR342 573, but this improved to ZAR325 193 if the project participated in the CDM. Thus it was concluded that the project will only be financially feasible if it includes CDM participation, and that this positive contribution can be leveraged by pursuing a programmatic CDM approach. This entails the development of this project as part of a larger program in which similar projects are implemented as they arise, up to the official UN limit of 15MWe in total to still qualify as a small-scale program. The nature of the assumptions that form the backbone of this study indicate that the positive financial feasibility result in the case where the project includes COM participation will become practically relevant only over the short- to medium-term as these assumptions become reality in South Africa. Therefore, although the time for such small-scale renewable energy projects has clearly not arrived as yet, it would seem that it is indeed around the corner. / AFRIKAANSE OPSOMMING: Die mikpunt van die navorsing was om die lewensvatbaarheid van 'n klein-skaal biomassa vergassing sisteem binne die konteks van 'n kooperatiewe wynkelder in die Wes-Kaap van Suid-Afrika te ondersoek. 'n Sentrale aspek was die vrae of die tyd aangebreek het om klein-skaal volhouhare energie projekte in Suid-Afrika tot uitvoering te bring, gesien in die lig van 'n status quo wat drasties weg beweeg het van die tydperk toe elektrisiteit volop en goedkoop was, en of die geleentheid wat die CDM bied sulke projekte finansieel lewensvatbaar kan maak. Daar is verskeie eksterne makro-drywers wat bydrae tot die huidige fokus op sulke volhoubare energie projekte. Hieronder tel globale klimaatsverandering as die dringendste drywer, terwyl die res onder andere die hernuwe strewe van lande tot verbeterde energie-sekuriteit, die besef van die belangrikheid van volhoubare ontwikkeling en die daaropvolgende volhoubare energie beleid stappe insluit. Daar bestaan nog etlike tegniese uitdagings tot die toepassing van klein-skaal biomassa vergassing tegnologie, spesifiek met betrekking tot die vergassing van afval landbou byprodukte, soos wat die geval is met druiwe afval in hierdie projek. Die belangrikste tegniese uitvoerbaarheids-aspek wat aandag verg is die lae smeltpunt van druifafval-as wat in die literatuur rapporteer word. Alhoewel die plaaslike toerustings-vervaardiger nie enige probleme in hierdie verhand voorsien nie, aangesien toetse met sonneblom afval - met as-eienskappe rofweg identies aan die van druiwe-afval - geen smelting van die as getoon het nie, sal dit tog nogsteeds aan verdere toetse onderwerp word. Vir die projek om te kwalifiseer as geskik vir verhandeling in kweekhuisgas vermindering deur middel van die COM, moet dit voldoende bewys kan word dat alle uitlaatgas vermindering addisioneel is tot wat die geval sou wees in die gewone gang van besigheid. Hierdie addisionaliteit is relevant in beide 'n omgewings- en finansiele sin. Hierdie projek sal orngewings-addisionaliteit bevredig deurdat die wynkelder in sy afwesigheid volkome afhanklik van die steenkool-gebaseerde elektrisiteit vanaf die nasionale netwerk sou bly, terwyl finansiele addisionaliteit bewys is deur die finansiele lewensvatbaarheids-model wat getoon het dat die projek slegs ekonomies uitvoerbaar sal wees indien dit CDM deelname insluit. Die lewensvatbaarheids-model is ontwikkel om die ekonomiese uitvoerbaarheid van die projek te evalueer, onderworpe aan die aangenome inset parameter waardes en basiese aannames in die studie. Die hoof-aanname was naamlik dat privaat terugvoer in die nasionale elektrisiteits-netwerk vir alle grootte IPPs moontlik is, ten spyte van die feit dat Eskom se MTPPP van Mei 2008 slegs kapasiteite van 5MW en groter aanvaar bet. Hierdie aanname is gebaseer op Suid-Afrika se volhoubare energie teikens en die regering se offisiele mikpunt om 30% van alle krag-voorsiening vanaf IPPs te bekom. Die tweede hoof-aanname was dat die 65 tot 100clkWh wat Eskom in sy MTPPP aangebied het, ook van toepassing sal wees op sub-SMW IPPs (Creamer, 2008), en dat die laer prys-limiet van 65c/kWb oor die hele projek-leeftyd toegepas kon word. Inherent tot hierdie aanname is die verdere veronderstelling dat die progressiewe daling in elektrisiteits-pryse tot 'n eventuele vlak van 35clkWh voorsien deur Eskom nie sal realiseer nie, beide as gevolg van die volgehoue druk wat die groeiende Suid-Afrikaanse ekonomie op die aansieniike, maar tydrowende, opwekkings-kapasiteit uitbreidings van Eskom behoort te plaas, en ook die hoe waarskynlikheid dat prys premiums vir skoon elektrisiteit ingestel word sodat Suid-Afrika sy volboubare energie telkens kan bereik. Die aanvanklike kapitaal en CDM uitgawes, en bedryfsuitgawes en - inkomstes oor die projekleeftyd is vanaf die aangenome inset parameter waardes afgelei, waarop die NPV van die projek uitgewerk is om te dien as die beslissende maatstaf van ekonomiese haalbaarheid. 'n Diskontokoers van 18% is gebruik, ooreenstemmend met die subjektief beraamde risikos wat die projek inhou as 'n klein-skaal volhoubare energie sisteem. Die resultate van die finansiele lewensvatbaarheids-model het getoon dat in die geval waar die projek geen CDM aspekte bevat nie, die NPV hoogs negatief sou wees met 'n waarde van -ZAR342 573, terwyl dit verbeter na ZAR325 193 as die projek CDM deelname insluit. Die gevolgtrekking is dus gemaak dat die spesifieke projek slegs ekonomies haalbaar sal wees indien dit wel CDM deelname insluit, en dat hierdie positiewe finansiele bydrae van die CDM geoptimaliseer kan word deur 'n programmatiese CDM benadering te volg. Dit behels die ontwikkeling van die projek as deel van 'n groter program waarin soortgelyke projekte mettertyd geimplementeer word soos hulle ontstaan, tot by die offisiele VN limiet van 15MWe om sodoende nog te kwalifiseer as 'n algehele klein-skaalse program. Die aard van die hoof-aannames in hierdie studie is indikatief dat die positiewe finansiele lewensvatbaarheid in die geval waar die projek CDM deelname insluit, eers oor die kort- tot medium-termyn prakties relevant sal word soos die aannames bevredig word. Dus, alhoewel die era van klein-skaalse volhoubare energie projekte nog nie aangebreek het in Suid-Afrika nie, lyk dit tog asof dit om die draai is.

The Kyoto Protocol Clean Development Mechanism (‘CDM’) allows developed countries to invest in developing country projects, to effect both greenhouse gas emission reductions and sustainable development, in exchange for carbon credits. This study considers how Brazilian CDM projects currently promote or inhibit sustainable development in Brazil. Brazil originally proposed the CDM-type framework, led the developing countries in the multilateral negotiations, and now ranks third globally for CDM project investment. The critical legal geography literature and corresponding hybrid analytical framework is applied to analyse the overlapping and multi-layered legal space of CDM projects in the context of an uneven physical and human geography. It applies legal and qualitative social research methods including textual analysis of English and Portuguese-language documents, onsite visits, semi-structured and unstructured interviews, focus groups and case studies of twelve Brazilian CDM projects of varying project types to consider: • The environmental policymaking processes underlying Brazil’s position in the international climate negotiations and how that position impacts Brazil’s assessment of proposed CDM projects’ sustainable development benefits; • The role of the Brazilian Proposal from the 1997 Kyoto Protocol negotiations in Brazil’s ongoing assessment of proposed CDM projects; • Brazil’s enunciated sustainable development criteria for CDM projects against the criteria actually applied; • The role of state environmental licensing authorities and nonstate actors in defining appropriate sustainable development benefits for CDM projects; and • The resulting (neo-)regulatory framework for Brazilian CDM projects’ sustainable development benefits in the context of legal pluralism. This dissertation concludes that Brazil’s CDM-specific domestic regulation is driven by the negotiating positions Brazil has taken in the international climate negotiations, most notably the 1997 Brazilian Proposal. As a result, Brazilian government-based CDM-specific regulation only considers the CDM projects’ Greenhouse Gas emission reductions benefits. Brazilian approval of domestic CDM projects also entails confirmation of administrative compliance with certain non-CDM specific regulatory frameworks, but institutional capacity issues within state and local regulatory agencies tend to undermine the effectiveness of assessing administrative compliance rather than legal and regulatory compliance. This government based regulatory framework is augmented by non-state actors, who have a neo-regulatory impact on corporate activity through demands for sustainable development benefits, giving rise to corporate sustainability programmes. There is scope for this neo-regulatory impact to extend to addressing sustainable development issues more broadly through NGO engagement with local and state environmental licensing authorities in the determination of appropriate environmental licensing conditions. In each case, the achievement of substantial sustainable development benefits is impeded by the lack of a mature multi-stakeholder dialogue involving a local government and civil society. As a result, corporate actors dominate consideration of appropriate sustainable development benefits.