1 The Clean Development Mechanism (CDM) is one of three market-based mechanisms introduced by the Kyoto Protocol to the United Nations Framework Convention for Climate Change (adopted 10 December 1997, entered into force 16 February 2005) (‘Kyoto Protocol’). It signifies a new approach to dealing with climate change and global environmental problems (Climate, International Protection).2 Developed country parties identified in Annex I of the United Nations Framework Convention for Climate Change (UNFCCC) are required by Art. 3 Kyoto Protocol to meet fixed emission...
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