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Question
In the context of CO2 emission and global warming, what is the name of a market-driven device under the UNFCCC that allows developing countries to get funds/incentives from the developed countries to adopt better technologies to reduce green house gas emissions?
In the context of CO2 emission and global warming, what is the name of a market-driven device under the UNFCCC that allows developing countries to get funds/incentives from the developed countries to adopt better technologies to reduce green house gas emissions?
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Solution
The correct option is A Clean Development Mechanism
Clean Development Mechanism (CDM) is a mechanism of the Kyoto Protocol by which Annex B parties countries having emission reduction targets can earn saleable Certified Emission Reduction (CER) units by investing in projects, programmes or policies in developing countries which result in emission reduction. Developing countries thus get the benefit of technology transfer through this mechanism.
Clean Development Mechanism (CDM) is a mechanism of the Kyoto Protocol by which Annex B parties countries having emission reduction targets can earn saleable Certified Emission Reduction (CER) units by investing in projects, programmes or policies in developing countries which result in emission reduction. Developing countries thus get the benefit of technology transfer through this mechanism.
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