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Diffusion of the Clean Development Mechanism
Abstract
The Clean Development Mechanism (CDM) of the Kyoto Protocol is an innovation that combines greenhouse gas abatement targets with sustainable development objectives. This chapter provides an estimate of the overall growth pattern of the CDM and makes projections about CDM activity during and beyond the first commitment period of the Kyoto Protocol commitments under current rules. The results imply that if the emission reduction targets remain unchanged beyond the first commitment period, further expansion of the CDM pipeline is unlikely.
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