their value, making them ultimately less desirable than credits from other project types. Tracking Mechanism The CDM registry, administered by the Secretariat under the guidance of the CDM Executive Board, is responsible for issuing CERs upon instruction by the Executive Board and distributing them to the accounts of project participants in Annex I Party national registries. The CDM registry must conform to the same technical standards as national registries and the ITL (see above). ERUs generated by JI projects are issued by the conversion of RMUs within the registries of the project host countries.
2.3.3
Land-use accounting for Non-Annex I Parties to the Convention
The main decisions on land-use accounting under the UNFCCC for developing countries has been through the emergence of the policy framework known as REDD+. The ongoing negotiations on agriculture for Non-Annex I Parties are highly politicized and have stalled due to a continued difference in views among Parties (see Box 1 below). REDD+ emerged from a proposal by Papua New Guinea and Costa Rica at COP11 in 2005 to explore options for creating incentives to avoid deforestation in developing countries, and thus fill the major gap left by the Kyoto Protocol. The proposal to avoid or slow deforestation was welcomed by the global community as one of the first internationally publicized efforts of developing countries to make a quantifiable contribution to scaled-up mitigation efforts under the Convention. This process resulted in the inclusion of tropical deforestation as one of the elements of the 2007 Bali Action Plan.
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Land use within the post-2020 climate regime