Focuses on the Clean Development Mechanism (CDM), the primary international offset mechanism established under the Kyoto Protocol to generate carbon offsets through investments in greenhouse gas reduction, avoidance and sequestration projects in developing countries. Explains why the CDM was established, describes its goals and briefly describes some of its projects and governance. Describes six of the challenges for the CDM. Comments on whether the CDM contributes to sustainable development and poverty reduction. Describes the role of legal reform and the need for judicial review of some decisions made under the CDM. Discusses the future of the CDM in a 'post-Kyoto world'. Source: National Library of New Zealand Te Puna Matauranga o Aotearoa, licensed by the Department of Internal Affairs for re-use under the Creative Commons Attribution 3.0 New Zealand Licence.