The Clean Development Mechanism (CDM) under the aegis of The United Nations Framework Convention on Climate Change (UNFCCC), defined in Article 12 of the Protocol, allowed 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 have been earning saleable certified emission reduction (CER) credits, each equivalent to one tonne of CO2, counted towards meeting the Kyoto targets of the Buyer Country.
CDM has been the first global, environmental investment and credit scheme of its kind, providing a standardized emissions offset instrument, CERs.
In fact KBS Certification Services Limited is the First Organization from the Indian Subcontinent to have been accredited by UNFCCC back in the year 2011.
Registered Clean Development Mechanism (CDM) project activities that would have had active crediting periods as of January 1, 2021 i.e., upon the end of Second Commitment Period under Kyoto Protocol are eligible to transition to the Article 6.4 mechanism of the Paris Agreement. The deadline for submitting the request for transitioning all Project Activities or Programme of Activities (excluding afforestation and reforestation projects) from CDM to Article 6.4 Mechanism also known as Paris Agreement Crediting Mechanism was 31st December 2023. The deadline for submitting the request for transitioning afforestation and reforestation projects from CDM to Article 6.4 Mechanism however is 31st December 2025.