Implementation of New Clean Development Mechanism Measures

The 2005 Kyoto Protocol sets up the so-called 'clean development mechanism' (CDM). The CDM provides for the transaction of certified emission reductions (CERs) between developing countries and developed countries, which are party to the Protocol. The CERs generated under CDM projects can be used by developed country parties to help meet their emissions targets under the Protocol; it also assists developing country parties achieve sustainable development and contributes to the ultimate objective of the United Nations Framework Convention on Climate Change (the UNFCCC). In addition, developed country parties commit finance and environmentally-friendly technology transfers to developing country parties in order to implement CDM projects within the its framework.