Question

With reference to Clean Development Mechanism (CDM) of the Kyoto Protocol, consider the following statements.
11. It is the main source of income for the UNFCCC Adaptation Fund.
Which of the statement(s) given is/are incorrect?

• A. $2$ only
• B. $1$ and $3$ only
• C. $2$ and $3$ only
• D. None of the above

Answer 1

The correct option is A $2$ only

The CDM allows emission-reduction projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol. The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction limitation targets. The CDM is the main source of income for the UNFCCC Adaptation Fund, established to finance adaptation projects and programmes in developing country Parties to the Kyoto Protocol.