World´s largest CO2 offset system 945 projects registered to date 49 countries 119 million certified emission reductions (CERs) issued approx. additional 2000 projects in pipeline 2.6 billion CERs expected to end of 2012 341 projects below 25,000 CERs/year; 23 projects above 500,000 CERs/year Run by Executive Board (EB) answerable to Parties Executive Board bakc-stopped by UNFCCC secretariat with support for: - Registrations and issuance - Accreditation of certification companies - Methodologies for emissions baseline setting and monitoring Years of operational experience (in the context of exponential growth!) 100,000,000 CERs issued at US$ 15,-- worth about 1.5 billion - low global administration cost below 1% Large pool of learning opportunities Bears important lessons in how to establish additional emission reductions in a measurable and verifiable manner for use as offsets Moved offset concept to operation on a global scale Bears important lessons regarding bottom-up approach and participation Assists in sustainable development