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The Flexible Mechanisms of the Kyoto Protocol

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The Kyoto Protocol in the EU

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Abstract

The flexible mechanisms mentioned in Chap. 4 and introduced by the Kyoto Protocol respond to one major concern expressed by several Annex I parties in the negotiations on the adoption of the Protocol, namely the necessity and importance of ensuring a certain level of international flexibility in the tools provided by the Kyoto Protocol regarding the compliance by Annex I parties with the quantified emission limitation and reduction commitments (QELRC) under Article 3 of the Protocol.

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Notes

  1. 1.

    Grubb et al. (1999), p. 87.

  2. 2.

    Principles, nature and scope of mechanisms pursuant to Articles 6, 12 and 17 of the Kyoto Protocol, Decision 14/CMP.1 (formerly Decision 15/CP.7), FCCC/KP/CMP/2005/8/Add.2, 30 March 2006.

  3. 3.

    Annex I countries are countries which have committed themselves to reducing greenhouse gas emissions to 1990 levels by the year 2000 as prescribed by Article 4.2 of the UNFCCC. They are the OECD countries, excluding Mexico, and the designated Economies in Transition Countries and Turkey.

  4. 4.

    Procedures and mechanisms relating to compliance under the Kyoto Protocol, Decision 27/CMP.1 (formerly Decision 24/CP.7), FCCC/KP/CMP/2005/8/Add.3, 30 March 2006.

  5. 5.

    The latter was created by Title IV of the 1990 Clean Air Act Amendments. For more information about the US policy on climate change and emissions trading, see Gerrard (2008) and Ellerman and Harrison (2003).

  6. 6.

    See Chap. 2, n. 44.

  7. 7.

    Assigned amount units are the total assigned amounts calculated pursuant to Article 3(1) and inscribed in Annex B of the Kyoto Protocol. They correspond to the total amount of greenhouse gas emissions in CO2 equivalent that a country is allowed to emit during the first commitment period.

  8. 8.

    Annex B parties are states with quantified emission limitation or reduction commitments listed in Annex B of the Kyoto Protocol. They are included in Annex I of the UNFCCC, having assumed legally binding commitments for the period 2008–2012 as indicated in Article 3(1) of the Kyoto Protocol.

  9. 9.

    See UNFCCC (2000), pp. 82–85.

  10. 10.

    Modalities, rules and guidelines for emissions trading under Article 17 of the Kyoto Protocol, Decision 11/CMP.1, FCCC/KP/CMP/2005/8/Add.2, 30 March 2006.

  11. 11.

    The commitment period reserve is calculated as 90% of the party’s assigned amount or as the level of national emissions indicated in the party’s most emissions inventory (multiplied by five, for the five years of the commitment period), whichever is the lower figure (Articles 3.7 and 3.8 of the Kyoto Protocol).

  12. 12.

    Decision 15/CP.7: Principles, nature and scope of the mechanisms pursuant to Articles 6, 12 and 17 of the Kyoto Protocol, FCCC/CP/2001/13/Add.2, pp. 2–4, 21 January 2002.

  13. 13.

    See supra n. 10.

  14. 14.

    The eligibility requirements of IET are listed in Decision 11/CMP.1, see supra n. 10.

  15. 15.

    Carbon Finance Website, 19 December 2008, available at: http://www.carbon-financeonline.com/index.cfm?section=global&action=view&id=11751.

  16. 16.

    See Chap. 2, n. 44.

  17. 17.

    See Chap. 4, n. 118.

  18. 18.

    Commission Regulation (EC) No 994/2008 pursuant to Directive 2003/87/EC of the European Parliament and of the Council and Decision No 280/2004/EC of the European Parliament and of the Council, OJ L 271/3, Brussels, 11 October 2008.

  19. 19.

    Article 12 of the EATD.

  20. 20.

    Proposal of the Commission for a Directive of the European Parliament and of the Council amending Directive 2003/87/EC so as to improve and extend the EU greenhouse gas emission allowance trading system, COM(2008)16, Brussels, 23 January 2008.

  21. 21.

    As stated earlier, only Annex B parties are allowed to participate in IET.

  22. 22.

    EEA (2009).

  23. 23.

    Modalities for accounting of assigned amounts under Article 7, paragraph 4, of the Kyoto Protocol, Decision 19/CP.7, Annex, part II, section A, FCCC/CP/2001/13/Add.2, 21 January 2002.

  24. 24.

    Modalities and procedures for a clean development mechanism as defined in Article 12 of the Kyoto Protocol, Decision 3/CMP.1, FCCC/KP/CMP/2005/8/Add.1, 30 March 2006.

  25. 25.

    Guidelines for the implementation of Article 6 of the Kyoto Protocol, Decision 15/CMP.1, FCCC/KP/CMP/2005/8/Add.2, 30 March 2006.

  26. 26.

    Joint Implementation Quarterly (2004).

  27. 27.

    See supra n. 2, Annex, D, 21.

  28. 28.

    Ibid., Annex C, 3.

  29. 29.

    Ibid., Section C, 5.

  30. 30.

    In 1997, Brazil presented a proposal for the creation of a ‘clean development fund’ financed by the financial penalties to be paid by Annex I parties in non-compliance with the Kyoto Protocol obligations. At COP3, the Brazilian proposal was converted into the current clean development mechanism.

  31. 31.

    Proposal of the Commission for a Directive of the European Parliament and of the Council amending the Directive establishing a scheme for greenhouse gas emission allowance trading within the Community, in respect of the Kyoto Protocol’s project mechanisms, COM(2003)403, Brussels, 23 July 2003.

  32. 32.

    See Chap. 4, n. 118.

  33. 33.

    Lefevere (2005).

  34. 34.

    Article 1(2) of Directive 2004/101/EC.

  35. 35.

    See supra n. 2, J.2 Guidelines for the implementation of Article 6 of the Kyoto Protocol, and 3. Modalities and procedures for a clean development mechanism as defined in Article 12 of the Kyoto Protocol.

  36. 36.

    Preamble 8 and Article 1 of Directive 2004/101/EC, new Article 11a(3)(a) of Directive 2003/87/EC.

  37. 37.

    Article 1(2) of Directive 2004/101/EC, new Article 11a(3)(b) of Directive 2003/87/EC.

  38. 38.

    Preamble 9 recalling Decisions 15/CP.7 and 19/CP.7 of the Marrakech Accords.

  39. 39.

    Preamble 14 and Article 1(2) of Directive 2004/101/EC, new Article 11b(6) of Directive 2003/87/EC.

  40. 40.

    For projects on hydro-power, see Article 1(2) of the Linking Directive, new Article 11b(6) of Directive 2003/87/EC; for compliance with the acquis communautaire see Article 1(2) of the Linking Directive, new Article 11b(1) of Directive 2003/87/EC; for nuclear activities see Article 1(2) of the Linking Directive, new Article 11a(3)(a) of Directive 2003/87/EC; for LULUCF activities see Article 1(2) of the Linking Directive, new Article 11a(3)(b) of Directive 2003/87/EC.

  41. 41.

    In the Netherlands, the project developer is required by the DFP to issue a declaration that the specific requirements are met, i.e., the international rules agreed under the Kyoto Protocol and the Marrakech Accords or the recommendations of the World Commission on Dams. See Decree of 13 April 2006, Netherlands National Guidelines and Procedures for Approving Article 6 Projects, Including the Considerations of Stakeholders, Staatscourant/79, 24 April 2005.

  42. 42.

    At the time of writing there are 8 projects in the pipeline in Cyprus (wind and agriculture) and 1 in Malta (landfill flaring).

  43. 43.

    Article 1(2) of Directive 2004/101/EC, new Articles 11a(3) and 11b(5) of Directive 2003/87/EC.

  44. 44.

    While the Marrakech Accords opened the way to a prompt start of CDM projects, the JISC was elected in late 2005 and JI credits cannot be issued before 2008.

  45. 45.

    Community guidelines on state aid for environmental protection, (2001/C 37/03), OJ C 37/3, Brussels, 3 February 2001.

  46. 46.

    Fernandez Armenteros and Massai (2005), pp. 426-427.

  47. 47.

    Article 1(2) of Directive 2004/101/EC, new Article 11b(3)(4) of Directive 2003/87/EC.

  48. 48.

    Decision 2006/780/EC on avoiding double counting of greenhouse gas emission reductions under the Community emissions trading scheme for project activities under the Kyoto Protocol pursuant to Directive 2003/87/EC, OJ L 316, 16 November 2006, Brussels, p. 12.

  49. 49.

    Preambles 8 and 9 and Article 3 of Commission Decision 2006/780/EC.

  50. 50.

    Already in 2005, 30 JI projects were issued a Letter of Endorsement in Russia. See Point Carbon, JI/AAU Host Country Ratings, Russia, 2006, available at: http://www.pointcarbon.com.

  51. 51.

    See Point Carbon, JI/AAU Host Country Ratings, 2006, http://www.pointcarbon.com.

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  1. T.M.C. Asser Institute, The Hague, The Netherlands

    Leonardo Massai

  2. Via di Galceti 111, 59100, Prato, Italy

    Leonardo Massai

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Massai, L. (2011). The Flexible Mechanisms of the Kyoto Protocol. In: The Kyoto Protocol in the EU. T.M.C. Asser Press. https://doi.org/10.1007/978-90-6704-571-1_5

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