JISC 32 Press Highlights: Recommendations to improve Kyoto Protocol?s JI mechanism take shape
JISC 32 Press Highlights: Recommendations to improve Kyoto Protocol’s JI mechanism take shape
The committee responsible for supervising the Kyoto Protocol’s joint implementation (JI) mechanism devoted the bulk of its 32nd meeting to fine-tuning its recommendations on how the market mechanism can be reformed.
The Joint Implementation Supervisory Committee (JISC) is preparing additional recommendations to send to Parties to the Kyoto Protocol when they review the fundamental rules of JI in Warsaw, Poland at the end of the year.
“Our recommendations are taking shape. The cornerstone is our proposal that JI be run under a single, unified track overseen by an international body,” said JISC Chair Derrick Oderson. “Only then will people have the level of comfort in the mechanism that is required, with respect to the reliability of oversight and the quality of the emission reductions produced.”
There are currently two JI tracks: Track 1 in which the vetting of projects is left up to the countries that host the projects and Track 2, which is overseen by the JISC, made up of members drawn from the regions of the United Nations who serve in their private and personal capacity.
At the meeting, the JISC agreed to send recommendations to Parties on:
+ A global accreditation system that could cover JI and other carbon market instruments, including the clean development mechanism (CDM);
+ Mandatory guidance to advise countries on how they host JI projects;
+ Innovative measures for determining emissions baselines and showing additionality;
+ Measures necessary to transition to the anticipated revised JI guidelines.
“JI has proven itself a useful, working mechanism for incentivizing investment in emission reduction projects in countries that have taken on an emission reduction cap,” said Mr. Oderson. “Parties now need to improve the mechanism, by building on the quality assurances provided under Track 2, through its transparent, international oversight.”
The JISC will finalize its recommendations to the Parties during its next meeting in September.
Full meeting report, documents and webcast
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