ects to the environment, as well as a significant waste of natural resources, thus representing a “lose-lose” situation. Non-Annex I countries are responsible for about 85 % of the global emissions caused by flaring, and yet it is in those countries that the associated gas could for example be used to provide necessary electricity.1 International efforts have been made to limit gas flaring activities, and the market-based Clean Development Mechanism (CDM) constitutes the outset of this paper. CDM in its current form however, is not an opti