What is forwarding?
Forwarding of CERs is the process by which the CDM registry administrator transfers CERs from the Executive Board's pending account into the accounts of Parties involved and project participants, as well as to the accounts in the CDM registry relating to the Share of Proceeds.
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).
The UNFCCC Secretariat has confirmed that CERs may be forwarded to accounts held by project participants in the national registry of the Annex I country that authorised their participation in the CDM project (or their temporary holding account in the CDM registry, prior to the international transaction log being operational). Alternatively, CERs may be issued to a Permanent Holding Account set up by a project participant registered in a CDM project activity with authorisation from a Non-Annex 1 Party. Units being held in a Permanent Holding Account can only be forwarded to the holding accounts of entities registered as participants in the CDM project activities that originated those units and with an authorisation from an Annex 1 Party.
It is not possible for CERs to be forwarded from the CDM registry to an account in the national registry of an Annex I Party that did not provide the Annex I approval.