Clean Development Mechanism (CDM), a brainchild of Kyoto Protocol, is a unique global instrument symbolising perfect symbiotic marriage between developed and developing countries with a distinct possibility of a win-win outcome for both. In last five years that CDM has been in force, the economic success has indeed been spectacular as well as path breaking. Although, the CDM¿s market potential as well as its past performance has been unquestioned but many experts find the present form of CDM riddled with many shortfalls and complexities which according to them is the major barrier in realisation of its full potential. This book explores and critically evaluates some of these design issues in CDM architecture using actual CDM cases successfully hosted by India. This book is envisaged to be extremely useful to CDM policy makers, designated operational entities, project proponents, researchers, students and any reader interested in carbon market and its functioning.