Nigeria: FG Yet to Benefit From CDM Agreement

Posted to the web 21 July 2008 Lagos Environment Minister, Halima Alao has said the country is yet to benefit from the Clean Development Mechanism (CDM), despite signing a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) on the Millennium Development Development (MDGs). Alao blamed the situation on the lack of capacity and the complexity of the mechanism. CDM is one of the three "flexibility" mechanisms introduced into the Kyoto Protocol that would allow member-countries to benefit from the international agreement outside their national borders. The other two mechanisms are joint implementation and emission trading. The Kyoto Protocol is an international agreement linked to the UN Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding... [read full story]