Between 1970 and 2004 the annual emission of CO2 grew by about 80% and during the last century, the concentration of CO2 in the atmosphere has risen by twelve fold. Due to the greenhouse gas effect, with the increase of greenhouse gases (GHG) present in the atmosphere earth’s atmosphere get warmer and warmer. This cause climate change and other related problems. In 1990 IPCC mentioned that climate change is a threat to a whole world and whole world should be joining together to solve this issue. Then the UNFCCC was established and enter into force in March 1994 .Which works with the objective of stabilizing atmospheric concentration of GHG at safe levels that would prevent dangerous anthropogenic interference with the climate system, but this did not mentioned the quantity of the level of reduction of GHG.
Therefore in 1997 Kyoto protocol was adapted with the major objective of reduction of GHG by industrialized countries at least 5% compared to the emission levels in 1990 during the period 2008-2012.Accroding to the Kyoto protocol there are 3 mechanisms which can be use to meet the GHG emission reduction targets; Clean Development Mechanism (CDM), Joint implementation (JI), International Emission Trading.
CDM is the mechanism which implementing projects in developing countries that reduce emissions of GHG or absorb GHG from the atmosphere and sell the amount avoided or absorbed to developing countries. There are 15 potential sectors for CDM listed by UNFCCC and among them the potential sectors identified for
According to the UNFCCC statistics it shows that the