Since 2003-04, when the CDM Executive Board (EB) assumed a more functional role, more than 1,700 CDM projects have been registered, promising a total of over 1.5 billion metric tonnes of CO2 reductions by the end of the first Kyoto commitment period. A glimpse at the historical development of CDM projects clearly demonstrates a trend: The first years (2003-2006) were characterised by the presence of renewable energy projects with biomass and wind power projects assuming pride of place in terms of number of projects registered. In what may be termed as the second phase of Kyoto and which probably started 2006 onwards, the presence of renewable energy technologies in the registered CDM projects had begun to wane.