The meeting will address trade and investment opportunities and challenges under the Clean Development Mechanismis (CDM), how this mechanism functions and how its contribution to sustainable development in developing countries might be enhanced.

The UNFCCC and the Kyoto Protocol provide the framework for a collaborative and multilateral effort to combat climate change based on the principle of common but differentiated responsibilities among its parties.

The Clean Development Mechanism (CDM)— one of the three “flexibility mechanisms” identified in the Kyoto Protocol that participating countries can use to meet their GHG reduction targets — is the only mechanism that involves developing countries.

Its purpose is to benefit both the investor and host countries by contributing to sustainable development in the host developing countries and by allowing investor countries to meet their GHG reduction targets at the lowest possible cost by taking advantage of the lower marginal cost of reducing GHG emissions in developing countries.

Investor countries get in return of their investments certified emissions reductions (CERs). There are currently 1,300 registered CDM projects in 49 countries, and about another 3,064 projects in the project registration pipeline.

The Expert Meeting is expected to contribute to a better understanding of the CDM, how this mechanism functions and how its contribution to sustainable development in developing countries might be enhanced.

It is also expected to make concrete recommendations on how to overcome the existing obstacles to greater CDM investment flows and to give guidance to UNCTAD’s work in this area in accordance with the mandate contained in para. 100 of the Accra Accord.

• Expert meeting on trade and climate change (27–29 April 2009)