Dysfunctional Delegation: Why the Design of the Clean Development Mechanism’s Supervisory System is Fundamentally Flawed
The supervisory system of the Kyoto Protocol’s Clean Development Mechanism (CDM) has been heavily criticized for not being able to guarantee the additionality of projects. Since neither the sellers nor the buyers of emission reduction credits in the CDM have an interest in the emissions reductions per se, but simply the right to them, a credible supervisory system is necessary to uphold the mechan
