In many parts of the developing world carbon sequestration projects have been implemented in association with community development. This is a practical way to demonstrate environmental as well as social benefits of the projects. To some extent the projects are in line with the dual objectives of the Kyoto Protocol’s Clean Development Mechanism (CDM). Knowing the immaturity of CDM market and the dynamics of the negotiations in the Conferences of Parties (COPs) to the United Nations Framework Convention on Climate Change (UNFCCC), it is timely to explore strategic and long-term approaches. This paper attempts to synthesize the lessons learned from Mexico, Colombia, Costa Rica, Philippines, Indonesia, and Timor-Leste presented and discussed in the workshop to mark the entry into force of the Kyoto Protocol. Most of the projects do not necessarily comply with the strict rules of CDM partly due to the fact that the current agreement only allows afforestation and reforestation activities. Conservation of carbon storage (e.g. in peatlands) is not eligible for funding under the existing rules.