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International Emissions Trading under the Kyoto Protocol: Core Issues in Implementation

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Abstract

This article sets out core issues to be addressed in implementing the trading mechanisms of the Kyoto Protocol. Firstly, this article focuses upon the issues surrounding the intergovernmental exchange of assigned amounts, and argues that this should be governed by a principle of emissions conservation, a rule of shared liability, and a guideline that transfers should represent real emission reductions. Modalities for implementing this guideline are discussed. The article then sets out issues of accountability arising from industry-level emissions trading, noting tensions between industry and government objectives that may best be resolved through intermediary agencies. Finally, the article considers the parallels and differences in the derivative mechanisms of Joint Implementation and the Clean Development Mechanism.

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... 11 Begg et al, 1998. 12 An alternative to the unpredictable baseline categories described that would reduce uncertainties for investors, a democratically designed National Agenda 21 could provide a straightforward baseline. With a well-articulated sustainable development plan, it may be decided that only GHGs avoided by CDM projects in conformity with this SD plan could be credited. ...
... Michaelowa, 1999.15 Grubb, 1998. ...
Article
1 The authors and the Project Co-ordinator, Dr. Hélène Connor, would like to thank Jim Barnes, Ophelia Cowell and contributing members of the Climate Action Network world-wide for their input to this paper. The preparation of this work has been supported by Gaz de France and constitutes the first of four phases planned to lead to empirical testing of the indicators in real project environments.
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Sommaire du numéro : http://archive-edutice.ccsd.cnrs.fr/edutice-00000878
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... Indeed, by arti"cially lowering the price of emissions permits, international trading of hot air could decrease incentives for buyers to e!ect real emission reductions themselves. It has further been shown that hot air trading could increase total Annex B country emissions relative to a situation in which such trading were prohibited (Grubb, 1998). ...
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The Economic Case for International Emissions TradingInduced Technical Change and the Initial Allocation of Emissions PermitsIs Some Trade Always Better Than No Trade?The Kyoto Protocol and Proposals for Global Emissions TradingConclusion References
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The Kyoto Protocol: specific commitments and flexibility mechanisms
  • Michael Grubb
  • Christiaan Vrolijk
Michael Grubb and Christiaan Vrolijk, 'The Kyoto Protocol: specific commitments and flexibility mechanisms', Climate Change Briefing Paper no.11, Royal Institute of International Affairs, London.