Carbon Market Opportunities in the Middle East and North Africa

To date, countries in the Middle East and North Africa (MENA) have hosted a limited number of projects under the Clean Development Mechanism (CDM). There are three challenges to the participation of middle-income countries in future carbon markets: the limited size of future demand for offsets or credits; restrictions on the use of CDM credits in Phase III of the EU Emissions Trading Scheme; and the lack of prompt preparation for the start of new market-based mechanisms. This study examines existing and emerging activities in the MENA countries that could fit into new market-based mechanisms.

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