It is assumed that flexible mechanisms will play a crucial role in facilitating a positive outcome in the UN climate change negotiations in Copenhagen in December 2009. A new CEPS Task Force Report, by CEPS Research Fellow Noriko Fujiwara, outlines the various motives behind the flexible mechanisms and takes stock of the experience acquired to date with a view to recommending key features of future mechanisms and providing clarity on questions related to investors’ access and more predictability about investment conditions.