The CDM (Clean Development Mechanism) is a mechanism established under the Kyoto Protocol, which is a legally binding agreement under the United Nations Framework Convention on Climate Change (UNFCCC). The Paris Agreement, adopted in 2015, is a successor to the Kyoto Protocol and aims to strengthen the global response to the threat of climate change.

The Paris Agreement recognizes the importance of the CDM in promoting sustainable development and reducing greenhouse gas emissions. The agreement encourages the continuation of the CDM and calls for the development of new market mechanisms to support the implementation of climate change mitigation and adaptation actions.

Under the Paris Agreement, countries are required to submit their Nationally Determined Contributions (NDCs), which outline their climate change mitigation and adaptation targets and actions. The CDM can be used as a tool to help countries achieve their NDCs by providing a mechanism for the implementation of emission reduction projects in developing countries.

Overall, the CDM remains an important tool for promoting sustainable development and reducing greenhouse gas emissions, and its role is recognized and supported under the Paris Agreement.