*Sameera, Assistant Professor of
**Associate Professor of
The Clean Development Mechanism (CDM) allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of Carbon-di-oxide. These CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol. This paper discusses Kyoto Protocol (KP) as the Background of Clean Development Mechanism (CDM) and also discusses CDM as one of the mechanisms of Kyoto Protocol. The governance mechanism of CDM is also explained. CDM being introduced and developed with the twin objective of sustainable development of the developing countries, and a flexible and cost effective tool for the legally binding GHG mitigation by the developed countries, vital and latest statistics on CDM projects is provided and analysed for scenario building. At the end of the paper a discussion has also been made and conclusions provided. Some future research areas have also been identified.
Kyoto Protocol, KP, Clean Development Mechanism, CDM, Sustainable Development, Energy, Environment, Green House Gases, GHG, UNFCCC
