Baker & McKenzie's Global Climate Change practice has officially launched the CDM Rulebook website, a comprehensive online database for the rules surrounding the CDM (Clean Development Mechanism) under the Kyoto Protocol.

Under the CDM, companies from developed countries can undertake projects in developing countries to reduce greenhouse gas emissions and receive carbon credits for them, provided that the projects meet the stringent eligibility criteria set out in the CDM rules. These credits can then be used to meet country-level Kyoto targets and company-level targets under some national emissions trading schemes.

Baker & McKenzie developed the website with funding from eight donor organisations: the United Kingdom Foreign and Commonwealth Office, the Swedish Energy Agency, the Australian Department of Climate Change, the New Zealand Ministry for the Environment, the Asian Development Bank, the United Nations Development Program, the World Bank and the UNEP Risoe Center.

The CDM Rulebook fills a significant gap in public resources available on the CDM.

Until now, there has not been a logically-sequenced information source available to assist market players and stakeholders (who are often first-time market participants from developing countries, with English as their second language).

A powerful search engine allows users to easily reach important content.

Users can also browse the rules by the stages of the CDM project cycle, by the bodies involved in the CDM process, and through an A-Z index. Users can also access Frequently Asked Questions, and submit their own question to be answered or term to be defined.

Paul Curnow, a Partner in Baker & McKenzie's Global Climate Change Practice and Editor of the CDM Rulebook said, "the CDM Rulebook represents a major step forward in the dissemination and understanding of the CDM rules. The availability of the site will remedy the serious barriers to accessing information, particularly for those in developing countries, and will contribute to reducing transaction costs."

As of today, the CDM Rulebook is available free to stakeholders, participants in the carbon market and all members of the public.

For more information visit www.cdmrulebook.org/

About Baker & McKenzie's Global Climate Change Practice

Baker & McKenzie has the largest and most experienced climate change practice in the world. The team has recently been awarded "Top Legal Advisor of CDM/JI Projects by Number of Deals 2007" by New Energy Finance and is recognised by international legal directory, Chambers Global 2008, as "Band 1 – Global Climate Change Firm" with Partner, Martijn Wilder, ranked "Band 1 – Global Climate Change lawyer."

For over 10 years, our dedicated global team has played a leading role in the development of carbon markets, climate law and policy, particularly in developing countries, as well as the US, Latin America and Asia. We have been a market leader and market maker and remain the counsel of choice to governments, corporates and financial institutions requiring advice in the global carbon markets.

Our lawyers are also involved in many other initiatives including the Renewable Energy and Energy Efficiency Partnership (REEEP), the Renewable Energy and International Law (REIL) Project and Al Gore's Climate Leaders' Programme.

Some of our recent work includes advising News Corporation on its strategy to become carbon neutral by 2010, assisting the Brazilian Mercantile & Futures Exchange to develop the Brazilian Carbon Market, advising Climate Change Capital Limited and the European Carbon Fund on the World's largest CDM deals, acting for Citigroup Venture Capital International on their investment into Sindicatum Carbon Capital Limited and advising the United Nations Development Programme (UNDP) on the establishment of its Millennium Development Goals Carbon Facility.

We have acted for governments in establishing climate law and policy, as well as designing emissions trading regimes, registries and trading platforms. Baker & McKenzie is the lead carbon counsel to many multilaterals including the World Bank, UNDP and the Asian Development Bank.

We are trusted advisors to many of the World's Carbon Funds and boutique carbon market players, including Ecosecurities and Climate Change Capital. Our team continues to represent many of the world's global investment houses as they enter the carbon market.

Climate change issues know no boundaries. It helps to have legal advisers whose knowledge and networks span 70 locations in 38 countries.

www.bakernet.com/climatechange

About Baker & McKenzie

Founded in 1949, Baker & McKenzie is a global law firm of more than 3,600 locally qualified, internationally experienced lawyers and 6,600 other professionals and staff in 70 offices in 38 countries. (www.bakernet.com) Baker & McKenzie is unique among law firms in Australia in that we offer the market something no other Australian firm can offer – access to an extensive network of Baker & McKenzie offices around the world. We have been part of the Australian business community since 1964 and have established ourselves as one of Australia's leading firms with an unequalled combination of local legal expertise and global knowledge and capabilities