The study describes and discusses in detail how four CDM reform alternatives, namely discounting of emission reductions, ambitious baselines, purchase and cancellation of CERs and reinvestment of CER levies, could be integrated in a Post-2012 climate regime.

The Clean Development Mechanism (CDM) aims at a cost-effective reduction of GHG emissions and technology and capital transfer from industrialised to developing countries. The CDM has seen a true gold rush period, with thousands of projects being developed in a few years. More and more governments and companies bet on the CDM to fill their compliance gaps. This report contains the main results and conclusions of the project Empirical analysis of performance of CDM projects implemented by Climate Strategies.