For a project to be eligible for carbon finance, greenhouse gas emission reductions must be additional to any that would occur in the absence of the project activity. The  project developer must demonstrate that the project would not have been realized under the business-as-usual scenario and that the promise of future carbon revenues assisted in implementing the project. The energy, oil and gas, chemical and industrial show great potential for generating greenhouse gas emission reductions and existing methodologies are available for certain project types that would 'certify'  emission reductions as being eligible for compliance under the Kyoto Protocol. However, projects in these sectors sometimes have greater challenges in meeting additionality criteria compared to projects in agricultureor waste management. Since today’s carbon market focuses on sales of GHG emission reductions generated up to the end of 2012, two important selection criteria for carbon project development are the potential for generating GHG emission reductions and a project’s capacity to mobilize needed capital investment, and completed (or underway) feasibility studies. A project developer should consider and balance the time taken to develop a project against the revenues and other benefits that may ensue. Other factors such the time to complete construction and therefore the duration of the purchase period for emission reductions (and hence revenues) should also be carefully weighed. Intensive international discussions continue on the possibility of extending and simplifying the Kyoto regime or another climate mitigation program.