The objective of this report is to provide an independent assessment of the impact of the CDM with respect to promotion of sustainable development in host countries and transfer of technologies from the developed world to developing countries. The purpose of the research is to provide the High Level Panel of the CDM Policy Dialogue with a statistical analysis of the contribution of CDM projects (or lack thereof) to sustainable development and technology transfer of the clean development mechanism in its first decade of operation, as a contribution in answering the questions: How has the CDM contributed to sustainable development and technology transfer, and what are the options for strengthening these contributions?