Developing nations to receive climate funding through global carbon trading scheme
The Clean Development Mechanism (CDM), established by the Kyoto Protocol, aims to help countries reduce greenhouse gas emissions. To be part of CDM projects, a country must be a Kyoto Protocol member, join the projects willingly, and appoint a national CDM authority. The Conference of the Parties (COP) supervises the implementation of climate change agreements and organizes yearly meetings for negotiations and updates. The UNFCCC and Kyoto Protocol require countries to give money to aid efforts in fighting climate change. Key terms include Clean Development Mechanism (CDM), Conference of the Parties (COP), financial contributions, Kyoto Protocol, and UNFCCC.