Article 6 in the context of the Marrakesh Accords

Projects under Article 6 in the
context of the Marrakesh
First UNFCCC Workshop on the
implementation of Article 6 projects under the Kyoto Protocol
26-27 May 2004
Moscow, Russian Federation
UNFCCC/Cooperative Mechanisms
•Article 6 under the Kyoto Protocol –
“joint implementation (or JI)”
•Critical element of the Marrakesh
•Imperative: to strike the right
•Compromise allowing the ratification
of the Kyoto Protocol
•Ensuring environmental integrity and
economic attractiveness
•Balancing interests of hosts and
investors, sellers and buyers of credits,
and Annex I and non-Annex I Parties
• Track 1
•Incentive for becoming eligible early
• Domestically-governed system with
relatively low transaction costs
• “Emissions trading-like JI”
• Track 2 - Alternative track
• Internationally exercised governance
• “JI as CDM light” process
• Article 6 Supervisory Committee,
operating under COP/MOP
•“Tailor-made JI” to encourage the
preparatory process for implementing
JI projects
•Credits could be obtained as of the
year 2008
•Opportunity well-understood by the
markets and anticipated
• Dynamic process will drive JI once
the first COP/MOP has set up the
Article 6 Supervisory Committee
• JI initiatives at national level
• Support through JI web module
• JI workshops to exchange experience