Abstract
The Kyoto Protocol is recognised as the most important global agreement of the late twentieth century, not only for fixing greenhouse gases (GHG) emission limits to be achieved by industrialised nations by 2012, but also for providing three flexible mechanisms through which industrialised countries can achieve their emission reduction objectives. These mechanisms: Joint Implementation (JI),
Emission Trading (ET) and the Clean Development Mechanism (CDM) allow industrialised countries to meet their emission reduction targets through joint
efforts or through projects abroad rather than through domestic actions alone.1 They give industrialised countries the opportunity to earn emission reduction credits anywhere in the world, at the lowest cost possible.2 Studies confirm that it requires US $50 to mitigate one ton of CO2 eq. in developed countries, while in developing countries the same reduction can be accomplished at US $fifteen per ton of CO2 eq.3
Emission Trading (ET) and the Clean Development Mechanism (CDM) allow industrialised countries to meet their emission reduction targets through joint
efforts or through projects abroad rather than through domestic actions alone.1 They give industrialised countries the opportunity to earn emission reduction credits anywhere in the world, at the lowest cost possible.2 Studies confirm that it requires US $50 to mitigate one ton of CO2 eq. in developed countries, while in developing countries the same reduction can be accomplished at US $fifteen per ton of CO2 eq.3
| Original language | English |
|---|---|
| Number of pages | 21 |
| Journal | Law, Environment and Development Journal |
| Publication status | Published - 2010 |
| Externally published | Yes |