Abstract
The clean development mechanism (CDM) was introduced as an approach to the utilisation of market mechanisms aimed at reducing greenhouse gases under the Kyoto Protocol of the United Nations Framework Convention on Climate Change. This paper briefly summarises the principle of CDM in relation to its procedure : from the registration of a project under the CDM executive board to the issuance of certified emission reductions (CERs). Secondly, it analyses the current status and trends in registered CDM projects by employing data. Thirdly, it reviews how the CDM has been utilised in government and private sectors in Japan. The paper ends by raising some issues observed under the current CDM and implications for the future.
