Policy instruments in relations to the international climate change negotiations. Costs and technologies
Projections of future greenhouse gas (GHG) emissions shows that non-annex l countries within few years will account for more than half of total global emissions. GHG reduction targets will involve the industrialised countries, the economies in transition and especially the non-annex l countries. Essential in these reduction objectives are policy instruments to achieve the targets in the most efficient way.
Projections of future greenhouse gas (GHG) emissions shows that non-annex l countries within few years will account for more than half of total global emissions. GHG reduction targets will involve the industrialised countries, the economies in transition and especially the non-annex l countries. Essential in these reduction objectives are policy instruments to achieve the targets in the most efficient way. An important purpose of the project is to assess the interaction between different policy instruments and national objectives of developing countries. The aim is to analyse the advantages and disadvantages of different existing policy instruments already part of the Kyoto and Buenos Aires round, such as Clean Development Mechanism, Activities Jointly Implemented, Joint Implementation and Emission Trading. In addition to this the project will contribute to the understanding of the potential for different countries to enter into agreements. The potentials for, for instance different developing countries can, according to resources, sixe, population, economic strength, vary substantially. One possibility is that a group og USA, EU and Japan will make agreements with large emitting developing countries such as China and India plus Russia as an EIT country. Scenarios for possible how co-operation could evolve will be assessed
Project component no. 1: The outcome of this project is published in the report titled Wind Power Projects in the CDM: Methodologies and Tools for Baselines, Carbon Financing and Sustainability Analysis. This UCCEE report is intended to be a guidance document for project developers, investors, and CDM host countries concerned with wind power projects in the CDM. The report explores in particular those issues that are specific to CDM project assessment and development - that is, baseline development, carbon financing, and environmental sustainability. Project component no. 2: This project presents a theoretical framework and basis for understanding adaptation that is partially optimal. The concept of optimal adaptation is based on theoretical work in the neo-classical economics area. The analysis follows a fairly rigorous mathematical course in explaining how and why autonomous adaptation takes place. Project component no. 3: To understand the background of the carbon sink controversy, and in order to assess the political acceptability of foreign direct investments in soil C sequestration in developing countries as an eligible climate policy measure, this peer-reviewed article summarizes the main issues at stake in the international policy debate on sinks. Project component no. 4: Under the 1997 Kyoto Protocol, economies in transition are eligible for both emissions trading (Article 17) and joint implementation (Article 6). Guiding rules for implementing these mechanisms were decided through the Marrakech Accords in November 2001. These countries may benefit substantially from those mechanisms if they are implemented appropriately. However, with the departure of the USA fromthe Kyoto Protocol, the likely revenues from international emissions trading for the economies in transition are likely to be limited at least during the first commitment period. A key criterion on whether countries should undertake emissions trading is the comparison of projections of emissions until 2012 with the target under the Kyoto Protocol. For joint implementation, the investment climate and the emission reductions potential of a specific project are more important. Countries that are bound by the Kyoto Protocol need to implement a clear instituional structure, which includes a JI office or aposition solely in charge of JI. Even if a country decides not to engage in JI, such an office could help guide possible foreign investors
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