Detailed rules agreed for Kyoto Protocol projects on limiting emissions in developing countries

UNFCCC press release

Bonn, 28 January 2003 - The Executive Board that oversees the Kyoto Protocol's Clean Development Mechanism (CDM) has finalized key procedures for investments in small-scale projects for limiting greenhouse gas emissions in developing countries, thus paving the way for an early launch of the first CDM projects.

Meeting last week in Bonn, the Board adopted a CDM Glossary of terms used in the Project Design Document, which helps project proponents to understand CDM terminology.

It also finalized the package of simplified modalities for small-scale CDM projects, including a "simplified CDM project design document" for registering such projects, and an "indicative list of simplified baseline and monitoring methodologies" helping project proponents to lower costs for complying with CDM rules.

Project developers and interested public are invited to visit the UNFCCC-CDM web site (http://unfccc.int/cdm/) from which all relevant documentation can be obtained.

The 1997 Kyoto Protocol established the CDM as a way of promoting sustainable development while minimizing the costs of limiting greenhouse gas emissions. In return for investing in a sustainable development project that reduces or avoids emissions in a developing country, companies will earn "certified emission reductions" that developed countries may use to meet their Kyoto commitments.

The CDM's "operational entities" will play a crucial role by checking whether projects conform with the CDM's rules. They will be responsible for validating proposed projects before they are registered by the CDM's Executive Board. They will also verify and certify the emission reductions achieved by a registered CDM project before the Board issues the "certified emission reductions".

Applications for accreditation of "operational entities" can be submitted to the Climate Change Secretariat in Bonn. Further information on the CDM and its procedural guidelines for accrediting "operational entities" can be found at www.unfccc.int/cdm.

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For more information: Please e-mail cdm-info@unfccc.int

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