lean Development Mechanism is the first international attempt to address climate change using a global emissions trading market mechanism involving both developed and developing countries. When it was originally created, it could not have been envisaged that it would become so large and lucrative so quickly, creating a market in a regulated commodity that would be worth billions of euros. In 2007, the value of the CDM market was estimated to total approximately €12 billion1, more than double the previous year’s figure. There are currently