The Kyoto protocol established a mechanism (see article) under which developing countries that cut their industrial emissions can sell those reductions to rich countries.

ECONOMIST: Climate change

The scheme under the Kyoto Protocol--the clean development mechanism--lets people get credit for little projects here and there, which change the level of emissions that would have existed otherwise.

FORBES: Magazine Article

We sincerely hope that such a mechanism will be included in the successor agreement to the Kyoto Protocol.

CNN: Your ask the expert: Carbon trading, part 2