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Status of Joint Implementation and Green Investment Scheme

Status of Joint Implementation and Green Investment Scheme. Vlad Tru sca Ministry of Environment and Sustainable Development Romania - Annual meeting of the Host Country Committee - Cologne, 30 April - 1 May 200 7. Overview. Joint Implementation Status JI Supervisory Committee

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Status of Joint Implementation and Green Investment Scheme

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  1. Status of Joint Implementation and Green Investment Scheme Vlad Trusca Ministry of Environment and Sustainable DevelopmentRomania - Annual meeting of the Host Country Committee - Cologne, 30 April-1 May 2007

  2. Overview • Joint Implementation Status • JI Supervisory Committee • Green Investment Scheme Status • JI & GIS Questions

  3. Joint Implementation Status • Reported volumes and values (PointCarbon, March 2007): • 2005 - 28 Mt CO2 - 96 M Euro • 2006 - 21 Mt CO2 - 95 M Euro • 2007 - 45 Mt CO2 - 277 M Euro (forecasted) • JI projects - 156 (UNEP Risoe Centre, April 2007) • Most attractive sellers - Ro, Ukr, Bg (PointCarbon-Apr. 2007) • Most active buyers - the Netherlands, Denmark, Austria, WB • Most active sellers in the future - Russia and Ukraine • EU ETS (linking) - effect on the ERU price (increase) • EU ETS double counting issue - impossibility of developing JI projects at the installations covered by EU ETS - expected low number of projects in the new EU member states • Average price in 2006-6.5 Euro/ERU (4.5-12.5) (PointCarbon)

  4. Type of JI projects Source: UNEP Risoe Centre, April 2007

  5. JI projects host countries Source: UNEP Risoe Centre, April 2007

  6. JI Supervisory Committee (JISC) • JISC established at COP/MOP 1 Montreal • JISC - process development and supervisory roles • Development of project design document(s) • Guidance on baseline setting and monitoring • Recommendations to MOP on revisions of JI guidelines • Supervision of Track 2 procedure • Accreditation of independent entities • JISC - 6 meetings (5 in 2006), JISC 7 - 2-4 May • JI-Accreditation Panel (AP) - 4 meetings (3 in 2006) • 2 JI technical workshops (1 in 2006) • 2 Q&A sessions (SBs and MoP) and 1 side-event at MoP2

  7. JI Supervisory Committee (JISC) - 2 • 26 Oct. - launch of JI Track 2 process, only in 9 months! • 50 JI PDDs submitted for comments (April 2007) • 6 Oct. - opening of application process for entities wishing to become AIEs under JI • 13 independent entities (AIE) have applied for accreditation by the JISC (April 2007) • 25 Annex I Parties informed the UNFCCC about their designated JI NFP, from which 14 submitted also their procedures for approving JI projects • 27 Mar.-determination of the first JI project (“Switch from wet-to-dry process at Podilsky Cement, Ukraine”) was deemed final as neither party involved nor 3 members of the JISC requested a review – 1st registered JI project

  8. Green Investment Scheme Status • No reported volumes and values • Only one IET (KP Article 17) transaction (Slovakia) • Only GIS studies: Ro, Bg, Ru, Uk, Lv • Potential sellers - new EU MS (Lv, Bg, Ro, Po) + Ru and Uk • Potential buyers - EU MS, Japan, Canada • More demand for JI than GIS due to lack of market interest yet and EU ETS (AAUs not allowed); • AAU price - very important for further development of GIS • GIS good for projects unlikely to become JI • Environmental and social integrity of GIS needed • Transparency to be handled properly

  9. Green Investment Scheme Status - 2 • Potential AAU supply - 7-8 Gt • Potential CER/ERU supply - 1-3 Gt • Limited private demand for AAUs • Uncertainties: Canada, Japan

  10. JI & GIS - Questions • How will JI continue to exist in the EU Member States considering EU ETS implications? • Will JI exist after 2012? How will it be shaped? In what sectors and activities? • What will be the JISC implications for Track I JI? • Is there a market for AAUs, with or without GIS? • What should be the price per AAU? Are the AAUs taxable? • How simple/complicated should a GIS be? • What should be the legal background for GIS? • What are the conditions for AAUs transactions between KP Parties and private entities?

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