Article 12 of the Kyoto Protocol establishes an independent governing body – the Executive Board – to supervise the implementation and administration of the clean development mechanism (CDM).
The Executive Board is the last point of contact for CDM participants, both in terms of project registration and the issuance of CERs. The CDM Executive Board (CDM EB) supervises the Kyoto Protocol’s clean development mechanism under the authority and guidance of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (CMP). The CDM EB is fully accountable to the CMP.
The CDM Executive Board main functions include – among other things provided in the Marrakesh Agreement:
(i) accreditation of the Designated Operational Entities (DOE) e provides advice to them;
(ii) registration and development of CDM project activities;
(iii) issuance of CREs;
(iv) establishment and improvement of methodologies for baseline definition, monitoring, and leakage; and
(v) development and publicity of the collection of approved rules, procedures, methodologies, and standards.