CDM
"The CDM allows emission-reduction (or emission removal) projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol.
The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction limitation targets."
Operational since the beginning of 2006, the mechanism has already registered more than 1,800 projects and is anticipated to produce CERs amounting to more than 2 billion tonnes of CO2 equivalent in the first commitment period of the Kyoto Protocol, 2008–2012. - Source: UN Framework on CCC website
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