CDM (Kyoto Protocol)
The Clean Development Mechanism (CDM) allows emission-reduction (or emission removal) projects in developing countries to earn carbon credits called certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol by entering into forward agreements called ERPA.
The mechanism stimulates sustainable development and emission reductions in developing countries, while giving industrialized countries some flexibility in how they meet their emission reduction targets.
Operational since the beginning of 2006, this mechanism has already registered more than 3,000 projects and issued more than 610 million CERs as of May 2011.
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