Abstract
A Clean Development Mechanism (CDM) is a market-based climate change instrument used to reduce emissions of greenhouse gases. CDM’s have become popular in many developing countries, however given the materially skewed distribution of CDM projects in developing countries it not clear whether CDM projects contribute materially to environmental and economic sustainable development in developing countries. This study examines the effect of CDM on sustainable development in Nigeria by reviewing sample of working CDM projects in Nigeria against globally established sustainable development criteria. Possible amendments to CDM policy are then reviewed based on the findings made during the study.
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