In this article, we will discuss Clean Development Mechanism. So, let’s get started.
Clean Development Mechanism
- It allows emission-reduction projects in developing countries to earn Certified Emission Reduction (CER) credits, each equivalent to one tonne of CO2.
- The CDM is the main source of income for the UNFCCC Adaptation Fund. The Adaptation Fund is financed by a 2% levy on CERs issued by the CDM.
- Adaptation Fund (AF) was established under the Kyoto Protocol in 2001 and has committed US$ 532 million to climate adaptation and resilience activities.
- Under CDM, CER units are issued by the UNFCCC which is the global administrator of Kyoto mechanisms.