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Market-based incentives in South Africa and Zambia: A comparative analysis of the clean development mechanism

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  • John G Fay

Abstract

The clean development mechanism (CDM) is intended to serve as a market-based incentive that is both efficient and cost-effective for eligible developing countries. The analysis contained in this article explores why, in theory, such an attractive incentive opportunity has been so under-utilised in sub-Saharan Africa. The paper compares the experience of the CDM in South Africa and Zambia. These two Southern African countries were selected because of their varying levels of statehood, South Africa being an emerging, middle-income economy while Zambia is classified as a least developed country. General challenges affecting the CDM were identified in the literature to be awareness, capacity, eligibility and access to finance. The paper then compares how these overarching issues specifically impact the CDM experience in South Africa and Zambia. The paper finds that common complexities relating to the CDM have varying implications for eligible host countries at different levels of statehood.

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  • John G Fay, 2013. "Market-based incentives in South Africa and Zambia: A comparative analysis of the clean development mechanism," Development Southern Africa, Taylor & Francis Journals, vol. 30(4-5), pages 687-695, December.
    • Handle: RePEc:taf:deveza:v:30:y:2013:i:4-5:p:687-695
    DOI: 10.1080/0376835X.2013.830560
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    Cited by:

    1. Trotter, Ian Michael & da Cunha, Dênis Antônio & Féres, José Gustavo, 2015. "The relationships between CDM project characteristics and CER market prices," Ecological Economics, Elsevier, vol. 119(C), pages 158-167.
    2. Purdon, Mark, 2015. "Opening the Black Box of Carbon Finance “Additionality”: The Political Economy of Carbon Finance Effectiveness across Tanzania, Uganda, and Moldova," World Development, Elsevier, vol. 74(C), pages 462-478.

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