Kyoto Protocol And Canada Essay

In practice this means that non-annex B economies have no GHG emission restrictions, but have financial incentives to develop GHG emission reduction projects to receive “carbon credits” that can then be sold to annex I buyers, encouraging sustainable development in these countries.Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that have emission units to spare ” emissions permitted to them but not “used”�?

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Leakage, if any, within or outside the project boundary, should be clearly described.

Determination of alternative project, which would have come up in absence of proposed CDM project activity should also be described in the project proposal.

The transfer of technology can be within the country as well from other developing countries also. Should include historic emission data-sets wherever available. Lifetime of project cycle should be clearly mentioned.

The project proposal must clearly and transparently describe methodology of determination of baseline. Baselines should be precise, transparent, comparable and workable 2. The methodology for determination of baseline should be homogeneous and reliable. The project proponent could develop a new methodology for its project activity or could use one of the approved methodologies by the CDM Executive Board.

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Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of Law Teacher.The mechanism stimulates sustainable development and emission reductions, while giving industrialized countries some flexibility in how they meet their emission reduction or limitation targets.(Definition by United Nations Framework Convention on Climate Change ” UNFCCC) The main benefits from the project-based Kyoto mechanisms include the potential reduction in cost of meeting the Kyoto Protocol targets for developed countries and support to the host countries objectives regarding sustainable development.The Clean Development Mechanism (CDM), defined in Article 12 of the Kyoto Protocol, allows a country with an emission ” reduction or emission-limitation commitment under the Kyoto Protocol (Annex B Party) to implement an emission reduction project in developing countries.Such projects can earn saleable Certified Emission Reduction (CER) credits, each equivalent to one tonne of CO2, which can be counted towards meeting Kyoto targets. It is the first global, environmental investment and credit scheme of its kind, providing standardized emissions offset instrument, CERs.Recognizing that developed countries are principally responsible for the current high levels of GHG emissions in the atmosphere as a result of more than 150 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of “common but differentiated responsibilities.” The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 February 2005.184 Parties of the Convention have ratified its Protocol to date.The achieved emission reductions can be used by the industrialized country to meet its reduction target.Countries listed in Annex B of the UNFCCC can purchase CDM credits. Eligibility The project proposal should establish the following in order to qualify for consideration as CDM project activity.Sustainable Development Indicators It is the prerogative of the host Party to confirm whether a clean development mechanism project activity assists it in achieving sustainable development.The CDM projects should also be oriented towards improving the quality of life of the poor from the environmental standpoint.

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