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Joint Implementation A Parties and Buyers Perspective UNFCC Technical Workshop

Füllung weiß/ keine Füllung. Alexandra Amerstorfer Austrian JI/CDM Programme. Joint Implementation A Parties and Buyers Perspective UNFCC Technical Workshop on Joint Implementation. Importance of Joint Implementation. Many Annex I countries have established or are planning to

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Joint Implementation A Parties and Buyers Perspective UNFCC Technical Workshop

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  1. Füllungweiß/keine Füllung Alexandra Amerstorfer Austrian JI/CDM Programme Joint Implementation A Parties and Buyers Perspective UNFCC Technical Workshop on Joint Implementation

  2. Importance of Joint Implementation • Many Annex I countries have established or are planning to establish acquisition programmes for ERUs and CERs • EU ETS and Linking directive gave a new impulse to the market, demand has increased from private sector • Estimates exist for overall demand for project based credits, but difficult to split into JI and CDM demand • Estimated supply 2.1 billion tonnes CERs and ERUs (88% CDM, 12% JI) until 2012 (Source: Point Carbon) • European companies and carbon funds most active buyers of CERs. Governments most active buyers of ERUs

  3. Advantages of JI versus CDM • JI host countries established markets for many European companies (higher additional economic benefit) • ETS: Daughter companies in JI countries provide opportunity for emission reductions • Track 1 less complicated than CDM, if requirements are met

  4. Disadvantages of JI versus CDM • Double counting provision in Linking directive limits use of JI by EU countries in new EU members • Some – not all – new MS have held up approval of JI projects • Risk of eliminating JI in EU MS by establishing very restrictive double counting rules?

  5. How to compensate disadvantages of JI • Simplify JI by using Track 1 – still uncertain course for most of the host countries • Give as soon as possible certainty about Track 2 – not restrict investments to Track 1 countries! • Establishment of Green Investment Schemes

  6. JI Track 1 versus Track 2 • Advantages of Track 1 • Higher Flexibility • Lower Transactions costs • Baseline standardisation (multi-project baselines,...) • No Supervisory Committee "Risk" • Disadvantages of Track 1 • Different standards are applied to projects (depending on Host countries) • How binding are LoAs of Host Countries?

  7. JI Track 1 versus Track 2 • Advantages of Track 2 • One single standard is applied to projects • Higher international credibility of the JI-projects • ERUs are not considered for the commitment period reserve • What do to if host country "looses" eligibility criteria for Track 1? • Disadvantages of Track 2 • Uncertainty regarding Supervisory Committee Decisions (Accreditation of Independent Entities, Baseline and Monitoring Methodologies) • Time consuming development (adaption) of Guidelines

  8. Expectations (1) Implementation of a fast and efficient procedure for JI-projects! Accreditation • Accreditation procedures for IEs • Acceptance of DOEs as IEs should be "easier" for them • Provisional acceptance of DOEs as IEs: impact on projects? - regulations for transition "Early Mover" Projects • Adaption of the PDD to the new JISC-PDD? • Validation: Should be a difference if done by an accredited DOE or not • Timeframe and costs

  9. Expectations (2) Baseline Setting Small Scale JI-Projects • Sectoral baselines – simple procedures • GIS as alternative? Ressources • Costs/Fees PROVIDE as MUCH SECURITY and CERTAINTY on JI-PROCEDURES and REQUIREMENTS as FAST as POSSIBLE to the MARKET!

  10. Füllungweiß/keine Füllung Alexandra Amerstorfer Phone: ++43/(0)1/31 6 31-240 a.amerstorfer@kommunalkredit.at www.ji-cdm-austria.at

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