GLOBAL WARMING Global Warming is the increase of Earths average surface temperature due to the effect of various greenhouse

e gases which trap heat that would otherwise be radiated by Earth. Earths climate is mostly influenced by the first 6 miles or so of the atmosphere which contains most of the matter making up the atmosphere. Since the early 20th Century the Earths surface temperature has been increased by 0.8o C. Almost 2/3rd of the increase occurring since 1980s It is estimated that the temperature is further expected to rise to about 1.1 to 2.9 for the lowest emission scenario and 2.4 to 6.4o C to their highest emission scenario. Even though the effect vary from region to region, the common observable effects are o Increase in sea level o Change in pattern and amount of precipitation o Expansion of subtropical deserts o Effect on animal life o Shift in weather patterns Heat waves Drought Heavy rainfall Ocean acidification Species extinction Most accepted policy response is laid by United Nation Framework Convention on Climate Change whose primary objective is to prevent dangerous anthropogenic climate change. A few accepted causes are o Greenhouse gases o Particulates and soot o Global dimming o Solar activities

CLEAN DEVELOPMENT MECHANISM One of the flexibility mechanisms defined in the KYOTO Protocol Provides for emission reduction projects which generates Certified Emission Reduction units which may be traded in emission trading schemes Defined in Article 12 of the protocol and has two main objectives o Assist parties not included in Annex 1 in achieving sustainable development and to achieve the ultimate objective of UNFCCC which is to prevent dangerous anthropogenic climate change o Assist parties in the Annex I in achieving their qualified emission limitation Annex 1 countries can meet their emission reduction conditions under KYOTO protocol by buying Certified Emission Reduction units from CDM emission reduction projects in developing countries.

CDM is supervised by CDM Executive Board and is under the guidance of Conference of Parties of UNFCCC Allows industrial countries to buy CERS to invest in emission reduction where it is cheapest globally. Most common projects involved HFC-23 or N2O destruction/reduction Carbon Capture and Storage was also included under CDM projects