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Unformatted text preview: he 2008–12 period.
Main purpose (Art 3): Each Annex B country has a GHG target for first commitment period (20082012)
Each country given “assigned amount units” (AAUs) for this period the Preparing national climate change mitigation and adaptation programs, taking steps to improve the quality of emissions data, promoting environmentally friendly technology transfer, cooperating in scientific research and international climate observation networks, and supporting climate change education, training, public awareness and capacitybuilding initiatives. What gases does the Kyoto Protocol cover?
Gas Global warming potential (over 100 years) Carbon dioxide (CO 2) 1 Methane (CH 4) 25 Nitrous oxide (N20) 298 Hydroflourocarbons (HFCs) (11 types) up to 14,800 Perflourocarbons (8 types)
Sulphur hexafluoride Up to 12,200
22,800 Source: IPCC, 4th Assessment Report (2007), WG 1, Table 2.14 Carbon Trade
Carbon Kyoto Protocol allows Annex B countries to meet their targets partly through trading
Trading cannot be the main way of meeting targets (Art 6.1(d))
Countries can trade AAUs to meet their target A country which easily meets its target can sell its excess AAUs A country which cannot meet its target can buy the AAUs it needs. Three types of emissions trading under the Kyoto Protocol
1. 1. 1. Emissions trading between Annex B countries (AAUs)
Joint implementation [JI] Projects between Annex 1 countries JI generates emission reduction units [ERUs]
Clean Development Mechanism (CDM) [Art 12] Generates Certified Emissions Reduction [CERs] Clean Development Mechanism (CDM)
Clean CDM projects are between: Annex 1 (industrialized countries), and nonAnnex 1 countries (developing country)
An industrialized country (Annex 1) funds a project in a developing country
Executive Board of the CDM must approve the creation of carbon credits from the project called Certified Emissions Reductions (CERs)
Annex 1 country gets the credits Can count the credits towards meeting its target Financial Mechanism under KP
The Marrakech Accords established an Adaptation Fund, which will be managed by the GEF, and funded by both a 2 per cent levy on CERs and additional contributions from Annex I Parties. The Adaptation Fund will finance concrete adaptation projects and programs in developing countries, along with such activities as supporting capacity building. Annex I Parties that ratify the Kyoto Protocol are required to report on their contributio...
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This document was uploaded on 03/28/2014.
- Spring '14
- Climate Change