Thank you Madam Chair,

The Plurinational Estate of Bolivia asociates it self with the statement of g77 and China

We are worried because the questions that we are discusing preclude the outcome of 1bv. They are oriented towards the implementation of markets, even before parties have agree on the convenience of a market based approach or not.

Bolivia thinks it is necessary first to analize some fundamental questions on market mechanisms, before deciding on their possible implementation, considering carefully all its advantages and disadvantages. Therefore, we think it is vital to reach a clear understanding of the following issues:
first, an evaluation of existing market mechanisms. Are markets mechanisms cost effective or not, considering a social, environmental and economic dimension?

second, how to prevent speculation and the development of a financial bubble around carbon markets?

third, what are the implications of carbon rights for the privatization and comodification of nature?

fourth, how to assure that annex I parties reduce their emissions domestically and that market mechanisms dont transfer the responsibility of developed countries to developing parties, and the lowest incremental cost is covered by developed countries, while bigger costs are assumed by developing parties?

fifth, what are the implications of carbon markets for environmental integrity?

sixs, how to assure equity in the use of atmospheric space, taking into account that per capita emissions are several times higher in Annex I countries, compared to most non Annex I countries, and that market mechanisms transfer emission reductions from developed parties to developing countries, increasing inequity between nations,

Bolivia believes that market mechanisms are not going to help solve climate change issues nor serve as adequate and predictable sources for finance. On the contrary, we believe that a non-market approach can be more cost effective in a sustainable perspective to adress climate change issues.

One of the main tasks of the LCA is to deal with the root causes of climate change, including the elimination of unsustainable patterns of consumption and production, in the developed country Parties and the dominant global capitalist system that gives rise to these.

Therefore we must promote new models of real susteinable development and harmony with nature that are not based on unlimited growth, recognizing that countries need to produce goods and services to meet the basic needs of its population, but by no means can continue on the current path of development as Annex I countries have followed.

To conclude, offsetting doesn’t change the fact that richer countries have a ecological footprint five times larger than the average percapita that the planet can bear. What we need to do is find approches that promote mitigation actions that attend this overconsumption of the planets capacity, while preserving the right for development for developing countries.

Thank you very much

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