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TERI Information Digest on Energy and Environment
Year : 2002, Volume : 1, Issue : 1
First page : ( 162) Last page : ( 164)
Print ISSN : 0972-6721.

Climate change: Kyoto mechanisms

 


[207]Kyoto Protocol and emission trading: does the US make a difference?
Ciorba U, Lanza A, and Pauli F. 2001The paper focuses on emission trading and different scenarios are presented that correspond to participants in the market as well as the domestic no trade solution. For each scenario the market price as well as total abatement costs for each country is indicated. While the Kyoto Protocol considers six different GHGs, this paper is limited to the most relevant, i.e. CO2. It is worth pointing out that not all the countries that signed the Kyoto Protocol are considered in this paper, principally due to a lack of data. However, less than 3% of Annex 1 emissions is not included in this study. Current literature focuses on the economic implications for large aggregation of countries. The European Union, in particular, is considered as a single area, even through structural differences persist within the region. However, it is worth underlining that aggregation of countries are largely driven by different modelling approaches. For example Computable General Equilibrium Models, that require a large quantity of information, generally do not adopt a country by country approach.
(9 tables, 25 references)
Climate Change Modelling and Policy90.2001:19 pp.
Eni S.p.A,
P.le E. Mattei 1, 00144 Roma, Italy
<alessandro.lanza@eni.it>

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[208]Market potential for Kyoto mechanisms — estimation of global market potential for co-operative greenhouse gas emission reduction policies
Halsnaes K. 2001The Kyoto Protocol established by the Parties to the UNFCCC in December 1997 includes three articles that provide a framework for cooperative GHG reduction activities between different parties namely, Article 6 on JI (joint implementation), Article 12 on the CDM, and Article 17 that facilitates emission trading among Annex B Countries. The paper estimates the potential demand and supply of GHG emission reduction projects with a main emphasis on the supply on CDM projects from DCs (developing countries). It is concluded that the demand for GHG emission reduction projects from Annex B countries including domestic action in Annex B countries. JI projects, emission trading and CDM projects in total will be approximately between 500-1300 MTC in 2010. The demand for CDM projects supplied by DCs will most likely not be very large compared with the total future GHG emissions in these countries according to recent scenario work undertaken by the IPCC. National studies for DCs have concluded that GHG emission reductions in the energy sector in the order of magnitude of 10%-15% of future baseline emissions can be achieved for a cost below $25 per tonne of CO2.
(6 figures, 9 tables, 45 references)
Energy Policy30(1):13–32
Riso National Laboratory,
UNEP Collaborating Centre on Energy and Environment, PO Box 49, DK-4000 Roskilde, Denmark
<kirsten.halsnaes@risoe.dk>

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[209]Emission trading under the Kyoto Protocol-effects on fossil fuel markets under alternative regimes
Holtsmark B and Maestad O. 2001The consequences of the Kyoto Protocol for the fossil fuel markets depend on which policy instruments are used in order to reach the emission targets. This paper uses a numerical model to assess the significance of international emissions trading for the oil, coal and gas markets. Three different trading regimes are compared. Particular attention is devoted to the EU proposal about limits on acquisitions and transfers of emission permits. According to the model simulations, the Kyoto Protocol will lead to surprisingly small reductions in the producer prices of fossil fuels. The authors find that the EU proposal will be non-binding for buyers of emission permits but will significantly constrain the sale of emission permits from Eastern Europe. The EU proposal will increase the level of abatement in Annex B countries and will cause a sharp increase in the price of permits compared to the free trade equilibrium.
(10 figures, 2 tables, 14 references).
Energy Policy30(3):207–218
Foundation for Research in Economics and Business Administration,
SIOS, Centre for International Economic and Shipping, Helleveien 30, N-5045 Bergen, Norway
<Ottar.Maestad@snf.no>

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[210]What prospects for soil carbon sequestration in the CDM? COP-6, and beyond
Ringius L. 2001Although generally supported by international experts and the IPCC, carbon sequestration has long been a contentious and difficult issue in global climate negotiations. As the recent COP-6 (Sixth Conference of the Parties) held in The Hague in November 2000 demonstrated, the sinks issue divides both the industrialized countries and the developing countries. To understand the background of the carbon sink controversy, and in order to assess the political acceptability of foreign direct investments in soil carbon sequestration in developing countries as an eligible climate policy measure, this paper briefly summarizes the main issues in the international policy debate on sinks. The paper finally analyses the informal outcomes of COP-6 and attempts to predict the outcomes of the resumed COP-6 to be held in July 2001.
(1 figure, 20 references)
Energy and Environment12(4):275–285
UNEP Collaborating Centre on Energy and Environment,
PO Box49, DK-4000 Roskilde, Denmark
<lasse.ringius@risoe.dk>

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[211]The additionality criterion for identifying CDM projects under the Kyoto Protocol
Shrestha RM and Timilsina GR. 2001The CDM under the Kyoto Protocol is envisioned as a vehicle to encourage developing countries to participate in GHG mitigation efforts. However, a number of issues related to the CDM are yet to be resolved. One such issue is related to the additionality criterion for identifying the CDM projects. This paper argues that while an application of purely economic additionality criterion is essential to ensure the real and long-term mitigation of global GHG emissions, it could also limit the scope of the CDM as an effective vehicle for GHG mitigation. It would therefore be desirable, under some conditions, to include in the CDM, the GHG mitigation projects that are economically attractive but are not implemented due to lack of capital resources. The paper also highlights the need for applying the additionality criterion for assessing candidate CDM projects, especially in the power sector, on the basis of their effects on overall programme or sectoral level GHG mitigation.
(1 figure, 2 tables, 29 references)
Energy Policy30(1):73–79
Energy Program,
School of Environment, Resources and Development, Asian Institute of Technology, Km, 42 Paholyothin Highway, PO Box4, Klong Luang, Pathumthani 12120, Thailand
<ram@ait.ac.th>

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