A high-level panel has called for "urgent action" to safeguard the UN's Clean Development Mechanism (CDM) by providing extra support to under-represented developing countries and focusing on sustainable development priorities.
CDM allows developing economies to earn credits for projects that reduce greenhouse gas emissions, such as renewable energy production. These credits, known as Certified Emission Reductions (CERs), are equivalent to one tonne of carbon dioxide and can be traded globally, so that industrialised countries can meet their emission-reduction targets under the Kyoto Protocol.
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