The Kyoto Protocol is successfully pushing the implementation and adoption of adaptation strategies to enable developing countries to earn saleable emissions reduction credits from certified projects, as part of the Protocol's Clean Development Mechanism (CDM).
Although extensive commitment to the CDM and such adaptation strategies has been less widespread than anticipated, there have been 145 notifications of intent to register and an additional 21 South African projects successfully registered.
For the majority of corporates, the main concern is cost. The realisation that carbon emissions will, through looming taxation systems, become an additional cost is turning focus to such projects already within the registration process for CDM.
As outlined by the UNFCCC, emissions reduction credits can be purchased by developing countries with emission control commitments to stimulate sustainable development and emissions reductions.
Harmke Immink, director of the climate change advisory firm Prometium Carbon commented that: " The CDM is essentially a funding scheme for real, measurable and long-term emission-reductions; as significant funding is involved the process has become fairly bureaucratic."
