Outline of The Bilateral Offset Credit Mechanism
Purpose of the BOCM:
- To facilitate diffusion of leading low carbon technologies, products, systems, services, and infrastructure as well as implementation of mitigation actions, and contributing to sustainable development of developing countries.
- To appropriately evaluate contributions to GHG emission reductions or removals from developed countries in a quantitative manner, through mitigation actions implemented in developing countries and use those emission reductions or removals to achieve emission reduction targets of the developed countries.
- To contribute to the ultimate objective of the UNFCCC by facilitating global actions for emission reductions or removals.
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