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Track 1 The host Party verifies the emission reductions/enhancements of removals. The host Party issues and transfers the ERUs. Track 2 The emission reductions/enhancement of removals are verified following the verification procedure under the JISC.
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Track 1 • The host Party verifies the emission reductions/enhancements of removals. • The host Party issues and transfers the ERUs. • Track 2 • The emission reductions/enhancement of removals are verified following the verification procedure under the JISC. • The host Party issues and transfers the ERUs. • A host Party eligible for Track 1, may at any time elect the Track 2 procedure.
Participation requirements • Designated focal point • National guidelines and procedures
Track 2 procedure Verification procedure under JISC Track 1 procedure Verification procedure according to host Party rules Requirements for issuing, transferring and/or acquiring ERUs • Party to the Kyoto Protocol • Assigned amount calculated • National registry in place for tracking assigned amount • National system in place for estimating emissions/removals • Submission of most recent required emissions inventory • Accurate accounting of assigned amount and submission of information NOTE: Eligibility only relates to ERU issuance, transfer and acquisition (No eligibility needed to develop and run JI projects)
Preparation and publication of PDD Preparation and publication of determination Project development Preparation and publication ofmonitoring report Preparation and publication of determination Project operation Issuance, transfer and acquisition Issuance ERUs by host Party Transfer and acquisition of ERUs
PDD • Preparation and publication of the PDD • Prepared by project participants • Submitted to the secretariat by an accredited independent entity (AIE) • Entities accredited by the JISC • Designated operational entities acting provisionally • Published on the UNFCCC JI website • Parties, stakeholders and UNFCCC accredited observers may submit comments during 30 days
PDD • Preparation and publication of the PDD • Baseline setting and monitoring in accordance with appendix B of the JI guidelines • Guidance agreed on by the JISC: • Baseline: project-specificand/or multi-project emission factor • CDM methodologies: project participants are allowed but not obliged, to use CDM approved baseline and monitoring methodologies • Additionality: various approaches possible • Provisions for small-scale projects agreed on by the JISC: • Small-scale definitions: same as CDM definitions for emission reductions, revised by COP/MOP 2 • Under JI, no limits to project bundling
Preparation and publication of the determination • Determination regarding the PDD is prepared and submitted by an AIE • Project approvals by the Parties involved • Participation requirements are checked (DFP, national guidelines) • Advance payment of the fee: • Fee for processing of verification reports • At this stage it is calculated based on the annual average of emission reductions/enhancements of removals • First 15.000 t CO2 equ. 0.10 USD / t • Over 15.000 t CO2 equ. 0.20 USD / t • Max. fee: 350.000 USD • Fee over 30.000 USD reimbursable
Preparation and publication of the determination • Determination is published on the UNFCCC JI website • Parties involved and individual JISC members can request a review by the JISC • Appraisal procedures assist JISC members: • Two JISC members/alternates prepare an appraisal • Two experts prepare an input to the appraisal • A review is considered if a Party involved or three members of the JISC request a review • Determination is final after 45 days if no review is requested
Preparation and publication of the monitoring report • Prepared by project participants in accordance with the monitoring plan determined by the AIE • Submitted to the secretariat by an AIE • Published on the UNFCCC JI website
Preparation and publication of the determination • Determination regarding emission reductions or enhancements of removals (verification) is prepared and submitted by an AIE • Fee for processing of verification reports • Published on the UNFCCC JI website • Parties involved and individual JISC members can request a review by the JISC • Appraisal by two JISC members/alternate • A review is considered if a Party involved or three members of the JISC request a review • Determination is final after 15 days if no review is requested
JI Track 2 ProjectsCurrent Status 50 PDDs Total emissions reductions (2008-2012) = 94 million t CO2 eq • Distribution by project type • Wind (11) • Hydro (4) • Biomass (4) • Biofuel (2) • CH4 avoidance from gas network (7) • CH4 recovery from mines (2) • Petroleum associated gas recovery (2) • Landfill gas recovery (5) • Energy efficiency improvement in industrial process (4) • District heating (6) • Other (4)
JI Track 2 ProjectsRussia 23 PDDs Total emissions reductions (2008-2012) = 65 million t CO2 eq
JI Track 2 ProjectsClosing Remarks • What JI Track 2 offers • Internationally standardised approach to implement JI projects ensuring a uniform quality standard • Process safeguards environmental security by relying on independent project verification by uniformly accredited organisations and supervision by an international body, the JISC (international credibility) • JI Track 2 procedure is fully operational (i.e. JISC has put in place all necessary regulations); • Annex B Parties meeting Track 1 requirements at any time opt for Track 2 • ERUs under Track 2 are exempted from Commitment Period Reserve restrictions • Uncertainties • Future of the Kyoto mechanisms after 2012 – discussions starting • Availability of national guidelines – soon • Competition with Track 1, Green Investment Scheme and Emissions Trading (157 “JI projects” in the pipeline)* - perhaps, but how much? • * as of 14 March 2007 (source: UNEP Risø Center)
