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'''Joint implementation''' ('''JI''') is one of three [[flexibility mechanisms]] set forth in the Kyoto Protocol to help countries with binding [[greenhouse gas]] emissions targets (so-called [[United_Nations_Framework_Convention_on_Climate_Change#Annex_I_countries| Annex I]] countries) meet their obligations. JI is set forth in Article 6 of the [[Kyoto Protocol]].<ref>For more on JI see http://unfccc.int/kyoto_protocol/mechanisms/joint_implementation/items/1674.php</ref> Under Article 6, any Annex I country can invest in emission reduction projects (referred to as "Joint Implementation Projects") in any other Annex I country as an alternative to reducing emissions domestically. In this way countries can lower the costs of complying with their [[Kyoto Protocol|Kyoto]] targets by investing in greenhouse gas reductions in an Annex I country where reductions are cheaper, and then applying the credit for those reductions towards their commitment goal.
'''Joint Implementation''' ('''JI''') is one of three [[flexibility mechanisms]] set out in the [[Kyoto Protocol]] to help countries with binding [[greenhouse gas emissions]] targets (the [[United Nations Framework Convention on Climate Change#Annex I countries|Annex I]] countries) meet their treaty obligations.<ref> For more on JI see [http://unfccc.int/kyoto_protocol/mechanisms/joint_implementation/items/1674.php Joint Implementation], United Nations Climate Change website.</ref> Under Article 6, any Annex I country can invest in a project to reduce greenhouse gas emissions in any other Annex I country (referred to as a "Joint Implementation Project") as an alternative to reducing emissions domestically. In this way countries can lower the costs of complying with their [[Kyoto Protocol|Kyoto]] targets by investing in projects where reducing emissions may be cheaper and applying the resulting [[Emission Reduction Unit]]s (ERUs) towards their commitment goal.


A JI project might involve, for example, replacing a coal-fired power plant with a more efficient [[combined heat and power]] plant. Most JI projects are expected to take place in so-called "economies in transition," noted in Annex B of the Kyoto Protocol.<ref>Annex B of the Kyoto Protocol identifies 12 economies in transition: [[Bulgaria]], [[Croatia]], the [[Czech Republic]], [[Estonia]], [[Hungary]], [[Latvia]], [[Lithuania]], [[Poland]], the [[Russian Federation]], [[Slovakia]], [[Slovenia]], and the [[Ukraine]]. </ref> Currently Russia and Ukraine are slated to host the greatest number of JI projects. <ref>For a list of JI projects currently in the pipeline see [http://www.cdmpipeline.org/ji-projects.htm#1] </ref>
A JI project might involve, for example, replacing a coal-fired power plant with a more efficient [[combined heat and power]] plant. Most JI projects are expected to take place in the economies in transition (the EIT Parties) noted in Annex B of the Kyoto Protocol.<ref>Annex B of the Kyoto Protocol identifies 12 economies in transition: [[Bulgaria]], [[Croatia]], the [[Czech Republic]], [[Estonia]], [[Hungary]], [[Latvia]], [[Lithuania]], [[Poland]], the [[Russian Federation]], [[Slovakia]], [[Slovenia]], and [[Ukraine]].</ref> Currently Russia and Ukraine are slated to host the greatest number of JI projects.<ref>{{cite web |url= http://www.cdmpipeline.org/ji-projects.htm#1 |title=JI Pipeline Analysis and Database |author= |work=UNEP Risoe CDM/ |year=2012 |accessdate=September 19, 2012}}</ref>


Unlike the case of the [[Clean Development Mechanism]], the JI has caused less concern of spurious emission reductions, as the JI, unlike the CDM, takes place in countries which have an emission reduction requirement.
Unlike the case of the [[Clean Development Mechanism]], the JI has caused less concern of spurious emission reductions, as the JI project, in contrast to the CDM project, takes place in a country which has a commitment to reduce emissions under the Kyoto Protocol.


The process of receiving credit for JI projects is somewhat complex. Emission reductions are awarded credits called [[Emission Reduction Unit]]s (ERUs), where one ERU represents an emission reduction equaling one tonne of CO<sub>2</sub> equivalent. The ERUs come from the host country's pool of assigned emissions credits, known as AAUs. Each Annex I party has a predetermined amount of AAUs, calculated on the basis of its 1990 greenhouse gas emission levels. <ref>The initial assigned amount of AAUs is equal to a country's 1990 level of [[greenhouse gas]] emissions, less five percent, multiplied over five years. Each AAU is worth 1 ton of C<sub>0</sub>2 equivalent. This formula is set forth in Article 3 Paragraph 1 of the Kyoto Protocol. The actual emission limitations for each Annex I Party are listed in Annex B of the Kyoto Protocol. </ref> By requiring JI credits to come from a host country's pool of AAUs, the Kyoto Protocol ensures that the total amount of emissions credits among Annex I parties does not change for the duration of the Kyoto Protocol's first commitment period.<ref>To illustrate, suppose the Kyoto Protocol only had three Annex I parties, countries A, B and C, each having 100 AAUs for the whole first commitment period. This would mean that the total amount of credits at the beginning of the first commitment period would be equal to 300. Now suppose that A hosted a JI project for B, resulting in 10 credits-worth of emissions reductions. A would have to convert 10 of its AAUs to ERUs and transfer them to B. So in the end, A would have ten ''less'' credits, or 90 AAUs (100 AAUs minus 10 converted ERUs); B would have ten ''more'' credits (100 AAUs plus 10 ERUs from the project), and country C would remain with its 100 AAUs. The total number of credits at the end of the first commitment period would be the same -- 300.</ref>
The process of receiving credit for JI projects is somewhat complex. Emission reduction projects are awarded credits called [[Emission Reduction Unit]]s (ERUs), which represents an emission reduction equivalent to one tonne of CO<sub>2</sub> equivalent. The ERUs come from the host country's pool of assigned emissions credits, known as [[Assigned Amount Units]], or AAUs. Each Annex I party has a predetermined amount of AAUs, calculated on the basis of its 1990 greenhouse gas emission levels.<ref>The initial assigned amount of AAUs is equal to a country's 1990 level of [[greenhouse gas emissions]], less five percent, multiplied over five years. Each AAU is worth 1 ton of C<sub>O</sub>2 equivalent. This formula is set forth in Article 3 Paragraph 1 of the Kyoto Protocol. The actual emission limitations for each Annex I Party are listed in Annex B of the Kyoto Protocol.</ref> By requiring JI credits to come from a host country's pool of AAUs, the Kyoto Protocol ensures that the total amount of emissions credits among Annex I parties does not change for the duration of the Kyoto Protocol's first commitment period.<ref>To illustrate, suppose the Kyoto Protocol only had three Annex I parties, countries A, B and C, each having 100 AAUs for the whole first commitment period. This would mean that the total number of credits at the beginning of the first commitment period would be equal to 300. Now suppose that A hosted a JI project for B, resulting in 10 credits-worth of emissions reductions. A would have to convert 10 of its AAUs to ERUs and transfer them to B. So in the end, A would have ten ''less'' credits, or 90 AAUs (100 AAUs minus 10 converted ERUs); B would have ten ''more'' credits (100 AAUs plus 10 ERUs from the project), and country C would remain with its 100 AAUs. The total number of credits at the end of the first commitment period would be the same -- 300.</ref>


==Projects==

The formal crediting period for JI was aligned with the first commitment period of the Kyoto Protocol, and did not start until January 2008 (Carbon Trust, 2009, p.&nbsp;20).<ref>{{cite web
|date=March 2009
|title=Global Carbon Mechanisms: Emerging lessons and implications (CTC748)
|author=Carbon Trust
|url=http://www.carbontrust.com/resources/reports/advice/global-carbon-mechanisms
|publisher=Carbon Trust website
|accessdate= March 31, 2010}}</ref> In November 2008, only 22 JI projects had been officially approved and registered. By 2012, it is expected that the total number of ERUs generated by JI will be around 300 million. This estimate is based on values taken from project plans, and makes no adjustment to account for delivery in practice.

Russia accounts for about two-thirds of these projected savings, with the remainder divided up roughly equally between Ukraine and the EU's New Member States. Emission savings include cuts in methane, HFC, and N<sub>2</sub>O emissions.

In December 2012, ERU prices crashed to a low of 15c before recovering to 23c after news that EU’s Climate Change Committee was to vote on a ban of ERUs from countries that have not signed up to a second commitment period under the Kyoto Protocol.<ref>{{cite web
|url = http://www.pointcarbon.com/news/1.2098417
|title = U.N. offsets crash to 15 cents ahead of EU ban vote
|first = Andrew
|last = Allan
|work = Point Carbon
|date = 12 December 2012
|accessdate = 16 December 2012
|archive-date = 14 May 2014
|archive-url = https://web.archive.org/web/20140514232329/http://www.pointcarbon.com/news/1.2098417
|url-status = dead
}}</ref> In January 2013, ''Bloomberg'' reported that Emission Reduction Unit prices declined 89 percent in the 2012 year.<ref>{{cite web
|url= http://www.theage.com.au/business/carbon-economy/european-carbon-permit-prices-cap-another-losing-year-20130101-2c3s9.html |title=European carbon permit prices cap another losing year
|author= Bloomberg
|work=The Age
|date=1 January 2013
|accessdate=14 January 2013}}</ref>


==See also==
==See also==
{{EnergyPortal}}
{{Portal|Energy}}
*[[Assigned Amount Unit]]
*[[Assigned amount units]]
*[[Emission Reduction Unit]]
*[[Removal Units]]
*[[Certified Emission Reduction]]
*[[Clean Development Mechanism]]
*[[Clean Development Mechanism]]
*[[Flexible Mechanisms]]
*[[Flexible Mechanisms]]
*[[Land_tenure#Modes_of_ownership_and_tenure|Obtaining ownership of land by productive use]]
The Third Period ( Phase three ) of the EU - Ts is expected to start by the end of 2012
The future of the JI is expected to be decided by the committee of the UNFFCC.


==External links==
==External links==
*[http://ji.unfccc.int/ UNFCCC] Joint Implementation on the UNFCCC pages.
*[http://ji.unfccc.int/ UNFCCC] Joint Implementation on the UNFCCC pages.
*[http://jiq.wiwo.nl/ Foundation Joint Implementation Network] Host of the Joint Implementation Quarterly (JIQ) newsletter.
*[http://www.jiqweb.org/ Foundation Joint Implementation Network] Host of the ''Joint Implementation Quarterly'' (JIQ) newsletter.
*[https://web.archive.org/web/20100526183302/http://www.bmu.de/klimaschutz/internationale_klimapolitik/kyoto_protokoll/doc/5802.php The original Kyoto Protocol]


==Notes==
==Notes==
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{{Global warming}}
{{Global warming}}


[[Category:Climate change policies]]
[[Category:Carbon finance]]
[[Category:Carbon Finance]]


{{environment-stub}}

[[de:Joint Implementation]]
[[fr:Application conjointe]]
[[th:การดำเนินการร่วมกัน]]

Latest revision as of 06:08, 29 November 2024

Joint Implementation (JI) is one of three flexibility mechanisms set out in the Kyoto Protocol to help countries with binding greenhouse gas emissions targets (the Annex I countries) meet their treaty obligations.[1] Under Article 6, any Annex I country can invest in a project to reduce greenhouse gas emissions in any other Annex I country (referred to as a "Joint Implementation Project") as an alternative to reducing emissions domestically. In this way countries can lower the costs of complying with their Kyoto targets by investing in projects where reducing emissions may be cheaper and applying the resulting Emission Reduction Units (ERUs) towards their commitment goal.

A JI project might involve, for example, replacing a coal-fired power plant with a more efficient combined heat and power plant. Most JI projects are expected to take place in the economies in transition (the EIT Parties) noted in Annex B of the Kyoto Protocol.[2] Currently Russia and Ukraine are slated to host the greatest number of JI projects.[3]

Unlike the case of the Clean Development Mechanism, the JI has caused less concern of spurious emission reductions, as the JI project, in contrast to the CDM project, takes place in a country which has a commitment to reduce emissions under the Kyoto Protocol.

The process of receiving credit for JI projects is somewhat complex. Emission reduction projects are awarded credits called Emission Reduction Units (ERUs), which represents an emission reduction equivalent to one tonne of CO2 equivalent. The ERUs come from the host country's pool of assigned emissions credits, known as Assigned Amount Units, or AAUs. Each Annex I party has a predetermined amount of AAUs, calculated on the basis of its 1990 greenhouse gas emission levels.[4] By requiring JI credits to come from a host country's pool of AAUs, the Kyoto Protocol ensures that the total amount of emissions credits among Annex I parties does not change for the duration of the Kyoto Protocol's first commitment period.[5]

Projects

[edit]

The formal crediting period for JI was aligned with the first commitment period of the Kyoto Protocol, and did not start until January 2008 (Carbon Trust, 2009, p. 20).[6] In November 2008, only 22 JI projects had been officially approved and registered. By 2012, it is expected that the total number of ERUs generated by JI will be around 300 million. This estimate is based on values taken from project plans, and makes no adjustment to account for delivery in practice.

Russia accounts for about two-thirds of these projected savings, with the remainder divided up roughly equally between Ukraine and the EU's New Member States. Emission savings include cuts in methane, HFC, and N2O emissions.

In December 2012, ERU prices crashed to a low of 15c before recovering to 23c after news that EU’s Climate Change Committee was to vote on a ban of ERUs from countries that have not signed up to a second commitment period under the Kyoto Protocol.[7] In January 2013, Bloomberg reported that Emission Reduction Unit prices declined 89 percent in the 2012 year.[8]

See also

[edit]

The Third Period ( Phase three ) of the EU - Ts is expected to start by the end of 2012 The future of the JI is expected to be decided by the committee of the UNFFCC.

[edit]

Notes

[edit]
  1. ^ For more on JI see Joint Implementation, United Nations Climate Change website.
  2. ^ Annex B of the Kyoto Protocol identifies 12 economies in transition: Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, the Russian Federation, Slovakia, Slovenia, and Ukraine.
  3. ^ "JI Pipeline Analysis and Database". UNEP Risoe CDM/. 2012. Retrieved September 19, 2012.
  4. ^ The initial assigned amount of AAUs is equal to a country's 1990 level of greenhouse gas emissions, less five percent, multiplied over five years. Each AAU is worth 1 ton of CO2 equivalent. This formula is set forth in Article 3 Paragraph 1 of the Kyoto Protocol. The actual emission limitations for each Annex I Party are listed in Annex B of the Kyoto Protocol.
  5. ^ To illustrate, suppose the Kyoto Protocol only had three Annex I parties, countries A, B and C, each having 100 AAUs for the whole first commitment period. This would mean that the total number of credits at the beginning of the first commitment period would be equal to 300. Now suppose that A hosted a JI project for B, resulting in 10 credits-worth of emissions reductions. A would have to convert 10 of its AAUs to ERUs and transfer them to B. So in the end, A would have ten less credits, or 90 AAUs (100 AAUs minus 10 converted ERUs); B would have ten more credits (100 AAUs plus 10 ERUs from the project), and country C would remain with its 100 AAUs. The total number of credits at the end of the first commitment period would be the same -- 300.
  6. ^ Carbon Trust (March 2009). "Global Carbon Mechanisms: Emerging lessons and implications (CTC748)". Carbon Trust website. Retrieved March 31, 2010.
  7. ^ Allan, Andrew (12 December 2012). "U.N. offsets crash to 15 cents ahead of EU ban vote". Point Carbon. Archived from the original on 14 May 2014. Retrieved 16 December 2012.
  8. ^ Bloomberg (1 January 2013). "European carbon permit prices cap another losing year". The Age. Retrieved 14 January 2013.
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