Abstract

The Clean Development Mechanism is a unique market mechanism that is a first of its kind in the multilateral environmental governance regime. India, as a non-Annex I country with a huge potential for GHG emission reduction, is ideally placed to utilize this opportunity of harnessing this mechanism to facilitate transfer of green technologies, foreign direct investment, which could complement the sustainable development initiatives of the country. However, since the CDM is a novel concept - there exists significant legal issues which would need clarification - especially since the ...