The report of the Executive Board of the clean development mechanism (CDM) for the period 2002–2003 covers work undertaken from November 2002 to July 2003. It provides information to the Conference of the Parties (COP), for consideration at its ninth session, on progress made towards the implementation of the CDM during its second year of operation, notably on approving new methodologies for baselines and monitoring and the accreditation of operational
entities. It also recommends decisions to be taken by the COP at its ninth session. The report also provides information on measures taken to ensure the transparent functioning of the CDM and on modalities for attendance by observers at CDM Executive Board meetings, as well as information on administrative expenses and resources relating to the operation of the CDM in the biennium 2002–2003 and in the forthcoming biennium 2004–2005. The work of the CDM Executive Board from August to November 2003 will be covered in addenda to this document. The Chair of the Executive Board, Mr. Hans Jürgen Stehr, will provide an oral report to the COP covering the entire year of operation