The UNFCCC, a widely supported international environmental treaty, entered into force on 21 March 1994 developed to address the problem of climate change.
Today, the UNFCCC has near-universal membership, including all UN member nations. The 197 countries that have ratified the Convention are called Parties to the Convention. Preventing “dangerous” human interference with the climate system (i.e. ‘Stabilise greenhouse gas emissions in the atmosphere’) is the ultimate aim of the UNFCCC.
The UNFCCC has a noteworthy history of climate change negotiations. The treaty is not legally binding but provides opportunities for updates (protocols) that can be used to set legally binding emissions limits.
The UNFCCC has achieved the 1997 Kyoto Protocol and the 2015 Paris Agreement, first ever binding agreements on emissions and climate change.
The Clean Development Mechanism / CDM
The Clean Development Mechanism (CDM), defined in Article 12 of the Kyoto Protocol, allows a country with an emission-reduction or emission-limitation commitment under the Kyoto Protocol (Annex B Party) to implement an emission-reduction project in developing countries. Such projects can earn saleable certified emission reduction (CER) credits, each equivalent to one tonne of CO2, which can be counted towards meeting Kyoto targets.
The mechanism is seen by many as a trailblazer. It is the first global, environmental investment and credit scheme of its kind, providing a standardised emission offset instrument, Certified Emissions Reductions. ‘CER’s.
A CDM project activity might involve, for example, a rural electrification project using solar panels or the installation of more energy-efficient boilers.
The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction or limitation targets.
A CDM project must provide emission reductions that are additional to what would otherwise have occurred. The projects must qualify through a rigorous and public registration and issuance process.
The CDM principals of projects ‘Additionality’ is integrated in Paying.Green’s Carbon Credit Acquisition Policy.
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Read more about the Carbon Offset Projects that Paying.Green™ buys UN Climate Credits from.
