What is issuance?
Issuance of certified emissions reductions (CERs) refers to the creation of CERs which correspond to greenhouse gas emission reductions or greenhouse gas removals which have been generated, verified and certified in respect of a CDM project activity.
CERs are issued by the CDM registry administrator on behalf of the Executive Board:
Upon being instructed by the Executive Board to issue CERs for a CDM project activity, the CDM registry administrator, working under the authority of the Executive Board, shall, promptly, issue the specified quantity of CERs into the pending account of the Executive Board in the CDM registry (3/CMP.1, Annex, paragraph 66).
This decision for large-scale projects applies equally to small-scale projects:
The CDM modalities and procedures shall apply to small-scale CDM project activities except for its paragraphs 37 to 60 (4/CMP.1, Annex II, paragraph 11).