The Clean Development Mechanism (CDM) is one of the mechanisms under the Kyoto Protocol, an international and legally binding agreement to reduce greenhouse gases emissions world wide. CDM as defined in Article 12 of the Kyoto Protocol provides for Annex I Parties to implement project activities that reduce emissions in non-Annex I Parties, in return for certified emission reductions (CERs). The CERs generated by such project activities can be used by Annex I Parties to help meet their emissions targets under the Protocol. Article 12 also stresses that such projects are to assist the developing country host Parties in achieving sustainable development and in contributing to the ultimate objective of the Convention.