Clean Development Mechanism - A Way to Sustainable Waste Management in Developing Countries?

In the climate change world, the policy process has concluded that cost-effective approaches for the reduction of greenhouse gases can provide a useful incentive to the developed world to reduce their emissions. One approach for cost-effective emission reduction is the Clean Development Mechanism established under the Kyoto Protocol (KP 1997, Art. 12). The Clean Development Mechanism (CDM) allows investors in the developed world to invest in the developing world in return for emission credits (Certified Emission Reductions CERs). The CDM has two goals – to contribute to the cost-effective reduction of emissions in the developed countries, and to promote sustainable development in the developing country. Since the CDM is an example of project-based emissions trading – one can argue that the second goal focuses on sustainable development in the context of the project being developed.