Abstract

The Regional Association of Oil and Natural Gas Companies in Latin America and the Caribbean (ARPEL) has a comprehensive membership of state-owned and private oil and gas companies, representing more than 90% of the upstream and downstream operations in the Region. ARPEL is committed to the fundamental principle that global climate change is an issue that requires actions from many parties, including industry, governments and non-governmental organizations.

ARPEL is aware of the uncertainties in the process of negotiations to develop an international framework to address climate change. ARPEL is committed to proactively addressing the issue and will actively encourage that emission credits be recognized for any emission reductions that its Member Companies achieve under any future international, including any protocols under the United Nations Framework Convention on Climate Change.

ARPEL is aware of the many concerns and uncertainties of the Kyoto Protocol, which include:

  • Scientific uncertainties about climate change;

  • Costs of emissions reductions;

  • Impact on the demand of fossil fuels; and

  • The role of carbon sinks.

ARPEL considers the Clean Development Mechanism (CDM) to be a key provision of the Kyoto Protocol that needs to be carefully designed to ensure that the common objectives of greenhouse gas emissions reductions, technology development and transfer, and other benefits to numerous partners, stakeholders, and businesses in the Region, are achieved. If developed and implemented properly, the CDM can help build partnerships not only among ARPEL Member Companies but also between the oil and gas industry with other industries, governments, and non-government organizations in the Region to reduce greenhouse gas emissions at the lowest cost while promoting new investments, development and transfer of technology, best practices, and sustainable development. This paper outlines ARPEL's recommendations that would strengthen the viability of the CDM in achieving these common objectives.

Background The Regional Association of Oil and Natural Gas Companies in Latin America and the Caribbean (ARPEL) has a comprehensive membership of state-owned and private oil and gas companies, representing more than 90% of the upstream and downstream operations in the Region1. We believe that the provisions of the CDM under the Kyoto Protocol2, if developed and implemented properly, can provide a key mechanism for building partnerships not only among our own Member Companies but also between the oil and gas industry with other industries, governments, and non-BLOCK 4 - - FORUM 20 31

ARPEL'S APPROACH TO EMISSIONS CREDITING FOR EMISSION REDUCTIONS

government organizations in the Region to reduce greenhouse gas emissions

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