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April 12, 2004
Kyoto Protocol’s Clean Development Mechanism Ready to Register First Projects
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The executive board of the Clean Development Mechanism (CDM), established under the 1997 Kyoto Protocol on greenhouse gas emissions, is ready to accept the first requests for projects to be registered as "CDM project activities."
Such projects must reduce greenhouse-gas emissions and simultaneously advance sustainable development in the developing countries in which they take place. Credits generated by the projects – so-called "certified emission reductions" – can be traded in the emissions trading regime established under the Kyoto Protocol.
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Registration of CDM projects is now possible, as the board has accredited the first two project-validating companies: Japan Quality Assurance Organization and Det Norske Veritas Certification (DNVcert) of the United Kingdom. A designated project validation entity plays a crucial role in ensuring the integrity of the CDM, since it checks whether a project conforms with CDM rules.
Once validated by such an entity, a project is automatically registered by the CDM board after a period of eight weeks, unless there are objections which would warrant a review. The first CDM projects could be registered by this June.
The CDM was established as a way of promoting sustainable development while minimizing the costs of limiting greenhouse-gas emissions. Its executive board is responsible to the Conference of the Parties to the United Nations Framework Convention on Climate Change.
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