The Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCCC) is one of the flexible mechanisms of the Kyoto Protocol intended to reduce the concentration of greenhouse gas (GHG) emissions in the atmosphere in a cost effective manner. The CDM allows developed countries to use Certified Emission Reductions (CERs) generated from sustainable development projects in developing countries to meet part of their emission reductions targets under the Kyoto Protocol. Developing countries in return receive investments in clean technology and revenue from the sale of these emission reductions, once they are generated. Emission reductions are certified by the Executive Board of the CDM (CDM EB). One CER is equivalent to one tonne of carbon dioxide (tCO2e).