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Legal Aspects of Carbon TradingKyoto, Copenhagen, and beyond$
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David Freestone and Charlotte Streck

Print publication date: 2009

Print ISBN-13: 9780199565931

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199565931.001.0001

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A Mechanism with a Bright Future: Joint Implementation

A Mechanism with a Bright Future: Joint Implementation

(p.176) 8 A Mechanism with a Bright Future: Joint Implementation
Legal Aspects of Carbon Trading

Jelmer Hoogzaad

Charlotte Streck

Oxford University Press

Although the term Joint Implementation itself is not mentioned anywhere in the Kyoto Protocol, Article 6 of the Protocol establishes the basis for what has become known as ‘Joint Implementation’ (JI). Jointly with the Clean Development Mechanism (CDM), JI belongs to the project-based flexible mechanisms defined by the Kyoto Protocol. JI involves the transfer of Emission Reduction Units (ERUs) between Annex I parties that have been generated by projects developed by Parties to the Protocol or authorized legal entities. This chapter first describes the current state of play for JI, explaining the procedural requirements for a successful participation in JI, including providing insights into the so-called Track 1 JI, a modality of the JI mechanism that is often overlooked due to its national rather than global character. Next, the claim that that JI has to accept a life as a wallflower compared to the more glamorous CDM is examined and argued to be untrue. Finally, the post-2012 future of JI is discussed, elaborating upon options for JI reform as well as proposals to introduce new elements to expand the mechanisms' sectoral coverage.

Keywords:   Kyoto Protocol, Joint Implementation, Clean Development Mechanism, sectoral coverage

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