This report covers the period from 1 November 2006 to 19 October 2007, in which the number of clean development mechanism (CDM) project activities more than doubled to 819 registered projects, and important decisions were taken by the Executive Board of the CDM to increase the efficiency and effectiveness of the mechanism. The report describes the status of the CDM, with focus on the accreditation of the entities that vet CDM projects and verify emission reductions; the
development of methodologies for emissions baseline setting and monitoring; and the registration of projects and issuance of certified emission reductions. The report highlights some of the challenges faced and key decisions taken by the Executive Board, such as the development of procedures and guidelines for programmes of activities, designed to expand the reach of the CDM. The report also covers matters relating to governance, management and resources