Carbon Market Watch

Carbon Market Watch (anciennement CDM Watch) scrute les marchés du carbone et milite pour une protection efficace et juste du climat.

Who Is Who in the CDM

CDM Executive Board (CDM EB)

The CDM EB supervises the CDM under the authority and guidance of the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (COP/MOP). The CDM EB members meet for a week approximately six times a year and:

  • Make recommendations to the COP/MOP relating to the CDM rules
  • Approve new methodologies related to baselines, monitoring and project boundaries
  • Provide guidance and clarifications on the CDM rules created by the COP/MOP
  • Register project activities and approve the issuance of CERs.

Learn more about the EB (external link)
For information on how to submit input to the CDM EB go here (external link)

There are several other working groups that support the CDM EB. They include:

CDM Methodologies Panel (Meth Panel)

The Meth Panel reviews proposals for new large scale methodologies and advises the CDM EB on issues relating to large scale methodologies. The Meth Panel meets for a week approximately six times a year. Learn more (external link)

Small-Scale Working Group (SSC WG)

The SSC WG reviews proposals for new small scale methodologies and advises the CDM EB on issues for new methodologies for CDM small scale project activities.  The SSC WG meets for a week approximately six times a year. Learn more (external link)

Afforestation & Reforestation Working Group (A/R WG)

The A/R WG prepares recommendations on submitted proposals for new forestry methodologies.

Accreditation Panel (CDM AP)

The CDM AP develops recommendations to the CDM EB about the accreditation of CDM project auditors (see below).

CDM Registration and Issuance Team (RIT)

The RIT is a roster of external experts that assist the CDM EB by assessing requests for project registration and requests for issuance for which review has been requested.

Designated National Authority (DNA)

The DNA is the authority in the host country in charge of reviewing and approving CDM projects. The DNA has to issue a Letter of Approval (LoA) to project participants confirming that the project contributes to sustainable development in the host country.  Without a LoA the project cannot be submitted to the UNFCCC for registration. You can find the contact details of all DNAs here (external link).

Designated Operational Entity (DOE)

The DOE is a certified auditor who validates if a CDM project complies with CDM rules. After a positive validation the DOE recommends approval of the project to the CDM EB. Once a project is registered, the DOE verifies the amount of emissions reductions a project should receive and recommends issuance of credits to the CDM EB. For a list of all accredited DOEs go here (external link).

Project Owner

The operator and owner of the physical project installation where the emission reduction project takes place. This can be any private person, company or other organisation.

Project Developer

A person or organisation with the intention to develop an emission reduction project. This could be the project owner, a consultant or specialised services provider.

Project Funders

Banks, private equity firms, private investors, non-profit organisations and other organisations may lend or invest equity to fund a project. Some of the standards have rules as to what kind of funding, aside from offset revenue, is acceptable for an offset project.


This term is used for individuals and organisations that are directly or indirectly affected by the emission reduction project. Stakeholders include the parties interested in developing a specific project (e.g. owner, developer, funder), parties affected by the project (e.g. local population, host community, environmental and human rights advocates) and national and international authorities.

The Official UNFCCC definition is: The public, including individuals, groups or communities affected, or likely to be affected, by the proposed CDM project activity or PoA, or actions leading to the implementation of such an activity. In CDM circles ‘stakeholders’ usually only refers to project participants and does not include civil society actors. Therefore CDM Watch avoids this term and uses the term ‘civil society’ instead.

Brokers and Exchanges

In the wholesale market, emission offset buyers and sellers can have transactions facilitated by brokers or exchanges. Exchanges are usually preferred for frequent trades or large volumes of products with standardised contracts or products. Brokers typically arrange transactions for non-standardised products, occasional trades, and often small volumes.

Offset Providers

Offset providers act as aggregators and retailers between project developers and buyers. They provide a convenient way for consumers and businesses to access a portfolio of project offsets.

For a list of official definition of terms, see the UNFCCC CDM glossary (external link)