Consider the following statements 1 Clean Development Mechanism CDM in respect of carbon credits in ...........

Environment and Ecology Environment- Institutional Structure

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Consider the following statements

1.Clean Development Mechanism (CDM) in respect of carbon credits in one of the Kyoto Protocol Mechanisms.

2.Under the CDM, the projects handled pertain only to the Annex-I countries.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

The first statement is correct. The Clean Development Mechanism (CDM) is indeed one of the Kyoto Protocol mechanisms. It allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol.

The second statement is incorrect. Under the CDM, the projects do not pertain only to Annex-I countries (industrialized countries). In fact, the CDM is specifically designed to encourage sustainable development in non-Annex I countries (developing countries), where the projects are implemented. Annex I countries can invest in these projects and in return receive CERs.