17 September 2010: At its 56th meeting, the Executive Board of the Clean Development Mechanism (CDM) agreed to launch two calls for public inputs on issues relating to certified emission reductions (CERs), and on the concept of materiality and level of assurance in the CDM.

The first call is for public inputs on the draft “Procedures regarding the correction of significant deficiencies and the excess issuance of CERs,” which the Board took note of during its 56th meeting. Specifically, the Board is calling for inputs on: whether the draft procedure complies with the relevant decisions of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (COP/MOP); suggested revisions to these decisions; market implications if the draft procedure is adopted; suggested revisions to the COP/MOP decisions and the draft procedure that would lessen the market impact, while upholding the general principle that excess-issued CERs should be replaced; and suggestions for what should be done in a situation where a project participant provides false or misleading information to a designated operational entity (DEO), and that information led to the excess-issuance of CERs. This call for public inputs is open from 17 September-8 October 2010, and the Secretariat will prepare an information note with the inputs to be considered at the 57th meeting of the Board.

The second call for inputs is on the draft “Standard on the use of the concept of materiality and level of assurance in the CDM.” The Board specially requests inputs on the following: the threshold and the scope of the application of materiality; and how to implement in practice the concept in the CDM. This call is open from 17 September-15 October 2010, and the inputs will be considered at future meetings of the Board. [Call for Inputs on Excess Issuance of CERs] [Call for Inputs on Materiality and Level of Assurance]