The 1997 Kyoto Protocol to the UNFCCC resolved to reduce emissions of greenhouse gases (such as carbon dioxide and methane) on a global scale. One strategy within the protocol for achieving this is the Clean Development Mechanism - or the CDM. The CDM allows industrialized countries with emission reduction commitments to meet part of their commitments by investing in projects that reduce emissions in developing countries. These projects need to support sustainable development in the host countries and must lead to emission reductions that are real, measurable and long term. Many developing countries already have experience in projects relevant to climate change mitigation such as energy efficiency, cleaner production, fuel switching and forestry. These projects typically use equity and debt to raise capital and produce financial returns for the investor. CDM projects are different because they include another type of input - carbon investment. The project generates carbon credits with a monetary value. Additional financial resources flow to the project to gain carbon credits. This finance is distinct from the equity investments made for financial returns - even if they are made by the same investor. The mechanism itself was established under Article 12 of the Kyoto Protocol. The Marrakesh Accords later established the 'rules and modalities' of the CDM (including its operating procedures, eligibility criteria, roles and responsibilities of parties and role-players and definitions) and established the requirement for a 'Designated National Authority' (and stipulated its role) in a host country.