1. Update on the CDM May 2004 UNFCCC/Cooperative Mechanisms CDM team

2. Status of the CDM after COP 9 … Prompt start of the CDM is a reality COP 9 welcomed progress in 2003 as all elements for operating the CDM are up and running (see UNFCCC CDM web site) Approval of proposed methodologies Accreditation of operational entities Interaction with stakeholders !

3. Status of the CDM after COP 9 … Encouragement to intensify work on methodologies, guidance to promote broader applicability of methodologies Need for Parties to advance on capacity- building, role for NGOs and IGOs (for promoting DNAs and DOEs) Inclusion of CDM afforestation and reforestation projects in the first commitment period: lots of additional work (need for expertise, resources) Simplified modalities and procedures for small- scale A&R projects to be ready at COP 10

4. Update on the approval of methodologies 11 approved methodologies – 5 available on UNFCCC CDM web site, 2 more to come soon, 4 are undergoing formatting 3 recommended to next EB meeting in June 20 proposals are under consideration Consolidation efforts under way: LFG, renewable energy for power to the grid Major other types: HFC 23 decomposition, fuel switching, biomass use, energy efficiency Small-scale methodologies available for 14 areas

5. Update on project registration First submissions expected in early June by one of the two accredited and provisionally designated operational entities 8 week objection period for regular projects 4 weeks for small-scale projects

6. Update on accreditation First two entities accredited in March 2004 24 applications at various stages in the accreditation process, some very advanced Facilitation measures for entities from developing countries to apply First applications from developing countries (from companies in Republic of Korea, Malaysia, Colombia)

7. Update at any time UNFCCC CDM web site UNFCCC CDM website (http://unfccc.int/cdm) UNFCCC CDM News Facility (If you register as a UNFCCC CDM web site user -> automatically subscribed)