During the Clean Development Mechanism’s Executive Board Meeting last week, the independent panel created to assess the Kyoto Protocol’s Clean Development Mechanism urged countries to intervene in carbon markets and strengthen their emission reduction plans. The program awards emission reduction credits to countries and companies that pay for projects that reduce emissions in developing countries. At the same meeting, the executive board proposed a policy that would allow the voluntary cancellation of emission reduction credits, and reached a consensus on two new procedures relating to the vetting of new projects and their emission reductions, as well as on an emissions baseline standard that will enhance consistency, objectivity, and predictability.