CDM Proving to be a Powerful Mechanism for Sustainable Development Globally.
By Charles Ogallo The Kyoto Protocol’s Clean Development Mechanism (CDM), the international market-based tool that incentivizes greenhouse gas emission reduction projects in developing countries, has registered its 4,000th project. The wind power project in Maharashtra state, India becomes the 4000th CDM project to be registered by UNFCCC –CDM executive Board. The project is expected to reduce greenhouse gas emissions by 21,807 tonnes a year; the equivalent of removing the emissions from 4,275 cars each year. “The CDM continues to evolve and improve, and deliver on a scale well beyond initial expectations,” said UNFCCC Executive Secretary Christiana Figueres. “Governments, the international Board that oversees the CDM and the UNFCCC secretariat have worked continually to simplify the mechanism, broaden its reach, safeguard its environmental integrity and prepare the CDM for the future.” There are now CDM projects registered in some 74 countries worldwide, ranging from projects