Abstract
The Clean Development Mechanism (CDM) was established under Article 12 of the Kyoto Protocol to assist developed countries in reducing greenhouse gas (GHG) emissions by transferring technologies to developing countries and creating a carbon credit market. Despite playing a crucial role in reducing GHG emissions, the CDM faced market uncertainties, inadequate targets for GHG reduction among signatory countries, political and institutional obstacles that led to a decline in CDM projects after 2012. Currently, China, India, and Brazil have the highest percentage of registered CDM projects. The literature presents both evidence in favor of and against CDM projects. To evaluate the evolution and updates in the literature, a bibliometric analysis of 810 articles published between 1998 and 2021 was conducted. The USA had the highest number of published articles, followed by Germany and China, with Energy Policy and Climate Policy as the main journals for disseminating the topic. The study identified four main research axes that expanded into seven thematic groups. Additionally, the evolution of four lines of interest was evident over time, starting with the greenhouse effect and Kyoto Protocol, followed by economic and business aspects, sustainable development and energy policy, and finally, technological transfer and innovation.
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