The "Clean Development Mechanism" (CDM) of the Kyoto Treaty encourages developed world deals in and technology transfers to the developing world in order to cut carbon emissions. CDM projects reduce overall greenhouse emissions, the greenhouse footprint of up-and-coming countries, and bring in new technologies and funds. What's not to love?

Ken Novak links to a couple of articles about CDM projects, one from India, the other from the Philippines. These articles underscore the point that the developing world is part of Kyoto, and that the CDM can be an engine for energy leapfrogging. Read on for a few interesting quotes from each piece.

India: So far the government has endorsed 46 out of the 150 projects submitted for CDM credit to help them earn extra dollars. Every tonne of carbon dioxide reduction through use of clean technology like wind, hydropower and biodegradable waste can fetch anywhere from $5-$6. [...] India has emerged as the largest supplier of projects followed by Brazil. China is expected to enter the market soon, with a difference, as the Chinese government would sell the emission reduction credits through mega projects.

Philippines: The Philippines is ready to participate in the “clean development mechanism” under the Kyoto Protocol and 14 CDM-eligible projects have been identified for endorsement to investors, Environment Secretary Michael T. Defensor said on Wednesday. [...] Experts from the World Bank say “carbon finance” is the general term used to describe a financing deal seeking to purchase greenhouse-gas-emission reduction to offset emissions in rich countries.