The United Nations’s Clean Development Mechanism Panel gave in-principle approval to the first set of emission reduction (or removal) projects in developing countries may earn certified emission reduction (CER) credits that may be traded, sold and used by industrialized countries to meet emission reduction targets under the Kyoto Protocol. This first project involves the deployment of 30 million compact fluorescent light bulbs in Mexico, which will be distributed over the next three years with a goal of generating up to 7.5 million CERs. For more, see here.
For more information on the Clean Development Mechanism, see here.