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QELRCQuantified Emission Limitation and Reduction Commitment (Kyoto Protocol)
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Thirdly, the idea of a "win-win" formula became part of the proposal: developing countries would benefit from "project activities resulting in emission reductions" while developed countries benefited through getting credit for "certified emissions reductions." Article 12(3) stipulates as follows: "under the clean development mechanism (i) parties not included in Annex 1 will benefit from project activities resulting in certified emission reductions; and (ii) parties included in Annex 1 may use the certified emission reductions to contribute to compliance with part of their quantified emission limitation and reduction commitments as determined by the Conference of the Parties serving as a meeting of the Parties to the Protocol."