It has been over 13 years since the Kyoto Protocol was initially adopted and a little over six years since it entered into force. Now, the protocol aimed at fighting global warming is celebrating a major milestone as the United Nations Framework Convention on Climate Change (UNFCCC) releases word that the protocol’s Clean Development Mechanism (CDM)-the international tool that channels investment into clean energy and greenhouse gas reduction technology in the developing world-has tendered its 3,000th project in the form of a a wind power project in Inner Mongolia, China.
According to the UNFCCC, there are now CDM projects in 71 countries. In addition to the 3,000 that have been registered so far, there are roughly 2,600 more projects in the pipeline and growth reportedly continues to be steady. The UNFCCC says that there were 17% more projects in the early stages of validation during the first three months of 2011 than there were during the same period of 2010.
The wind power project in Inner Mongolia will see the installation of 41 turbines that are expected to produce up to 49.5 megawatts of electricity. Like other CDM projects, this latest effort in China will earn the country emission offset credits, also referred to as CERs, for its emissions reductions. Each CER is meant to represent 1 ton of CO2 emissions. The credits earned can later be sold or traded to other countries. Developed countries which have an emission reduction commitment under the Kyoto Protocol can use the credits to meet a part of their obligations to reduce their national greenhouse gas emissions.