Page "United Nations Framework Convention on Climate Change" Paragraph 107

# Flexible Mechanisms: The " flexibility " mechanisms which the United States had strongly favored when the Protocol was initially put together, including emissions trading ; Joint Implementation ( JI ); and the Clean Development Mechanism ( CDM ) which allow industrialized countries to fund emissions reduction activities in developing countries as an alternative to domestic emission reductions.

One of the key elements of this agreement was that there would be no quantitative limit on the credit a country could claim from use of these mechanisms provided domestic action constituted a significant element of the efforts of each Annex B country to meet their targets.