To date, there has been no international agreement on whether projects to avoid deforestation or preserve forests should be initiated by separate policies and measures or whether they should be stimulated by the carbon market. Second, the industrialized applicant country must argue, using methods approved by the Executive Board of the CDM (EB), that the carbon project would not have taken place anyway (note additionality) and establish a baseline for estimating future emissions without the registered project. The case is then validated by a third-party agency, called a Designated Operational Entity (DOE), to ensure that the project results in real, measurable and long-term emission reductions. The EB will then decide whether or not to register the project. When a project is registered and implemented, the EB allocates credits credited as certified emission reductions (RECs, commonly known as carbon credits, each unit corresponding to the reduction of one metric ton of CO2e, for example. B CO2 or equivalent), to project participants based on the monitored difference between the baseline and the actual emissions verified by the DOE. . . .