Joint Implementation
The Protocol defines two project-based mechanisms that allow Annex I countries to meet their GHG emission reduction commitments by acquiring GHG emission reductions "credits." The credits are acquired by an Annex I country financing projects that reduce emissions in non-Annex I countries or other Annex I countries, or by purchasing credits from Annex I countries with excess credits. The project-based mechanisms are the Clean Development Mechanism (CDM) and Joint Implementation (JI).