This document provides a technical analysis by the secretariat of possible changes to the modalities and procedures for the clean development mechanism (CDM) in the areas specified in decision 4/CMP.9 and of the implications thereof, as requested by the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol at its ninth session. The possible changes analysed in this document are based on the inputs from Parties, stakeholders and the Executive Board of the CDM to date on the review of the CDM modalities and procedures