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Kyoto Protocal has deep political implications and significance, especially from the viewpoint of developing countries. In particular, the Clean Development Mechanisms (CDM) rewards states and non-state actors for saving greenhouse gases emission with carbon pricing. The clean development mechanism also enables developed countries to invest in low-carbon projects in developing countries, to reduce emissions in those territories and to help industrialized States respect their own emissions reduction commitments. Overall, the CDM has helped assisting developing countries to achieve sustainable development, and it has enabled other countries to achieve their emission reduction targets in a cost-effectively manner. Around 7,596 projects have been registered in 2016, with an extraordinary growth during the period 2010-2016. A positive thing is that the CDM can be used not only by States but also by private firms. Most of CDM projects focus on renewable energy. Of course, there is room for improvement: for example, the repartition of CDM projects is geographically unequal between regions of the world and among States (African States have only 2.40 per cent of total projects), for the very simple reason that investors see emergent States as more secure than less economically dynamic States, also in terms of legal and infrastructural capacity. Africa is clearly underrepresented in terms of CDM project, and 19 African States have no CDM projects at all. This is a factor that needs to be fixed soon. Although it is submitted that the CDM consistently needs to improve the quality and quantity of its emissions reduction, the overall assessment is positive.
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