This report covers the work of the Executive Board of the clean development mechanism (CDM) from 5 October 2013 to 30 September 2014. It highlights achievements and challenges faced by the Board in its implementation of the mechanism, the status of the mechanism and work undertaken by the Board and its support structure in the areas of accreditation, methodologies, registration and issuance, and other areas. Furthermore, it includes a number of recommendations for action by the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol at its tenth session. The main challenge facing the CDM remains the low level of demand for the certified emission reductions produced by CDM registered project activities and programmes of activities, due ultimately to Parties’ level of ambition to reduce greenhouse gas emissions. The report describes the Executive Board’s efforts to make prudent use of its resources in the present constrained environment to implement and improve the CDM and encourage its use, in order to ensure that the mechanism remains a useful tool at the disposal of Parties to incentivize climate change mitigation and contribute to sustainable development.