The CDM is expected to come into eect
before other ``¯exibility mechanisms'' (provisions
under the Protocol allowing Annex B countries
to meet some or all of their commitments
through activities in other countries). This is
because the CDM includes a ``banking'' pro-
vision through which carbon credit can be earned
as early as 2000 and later applied to oset emis-
sions of Annex B countries during the Protocol's
®rst commitment period (2008±2012). Decisions
are still pending as to what, if any, LUCF activi-
ties will be eligible for credit under the CDM.