The project report and CDs should be forwarded through covering letter signed by the project sponsors.
The project report submitted should be properly bound.
The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction or limitation targets.
(Definition by United Nations Framework Convention on Climate Change ” UNFCCC) The main benefits from the project-based Kyoto mechanisms include the potential reduction in cost of meeting the Kyoto Protocol targets for developed countries and support to the host countries objectives regarding sustainable development.
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Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of Law Teacher.The details rules for the implementation of the Protocol were adopted at Conference of the Parties (COP) 7 in Marrakesh in 2001, and are called the “Marrakesh Accords.” Under the Treaty, countries must meet their targets primarily through national measures.However, the Kyoto Protocol offers them additional flexible means of meeting their targets by way of three market-based mechanisms.Recognizing that developed countries are principally responsible for the current high levels of GHG emissions in the atmosphere as a result of more than 150 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of “common but differentiated responsibilities.” The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005.184 Parties of the Convention have ratified its Protocol to date.These mechanisms help stimulate green investment and help Parties meet their emission targets in a cost-effective way.These mechanisms allow Annex B economies to meet their GHG emission limitations by purchasing GHG emission reductions credits from elsewhere, through financial exchanges, projects that reduce emissions in non-annex B economies, from other annex B countries, or from annex B countries with excess allowances.Leakage, if any, within or outside the project boundary, should be clearly described.Determination of alternative project, which would have come up in absence of proposed CDM project activity should also be described in the project proposal.Sustainable Development Indicators It is the prerogative of the host Party to confirm whether a clean development mechanism project activity assists it in achieving sustainable development.The CDM projects should also be oriented towards improving the quality of life of the poor from the environmental standpoint.