Highlights -- Joint Implementation Supervisory Committee, 22nd meeting

Highlights -- Joint Implementation Supervisory Committee, 22nd meeting

Bonn, 16 June 2010 – Due to slow contributions from Parties, the Joint Implementation Supervisory Committee (JISC) has decided to cancel its planned regular meetings in September and December in favour of a special meeting in October focused on the finalization of its report to Parties to the Kyoto Protocol, which will include recommendations on streamlining the JISC's work programme, taking stock of JI's potential post 2012, and finding a more secure and sustainable financial model for undertaking JISC activities.

The JISC at its 22nd meeting also agreed to cancel a meeting of its Accreditation Panel scheduled for August.

"In the immediate term, we need pledges from Parties. In the medium and long term we need to help Parties and potential project participants understand the value of joint implementation track II," said JISC Chair Benoît Leguet.

JI track II is expected to rely on Party donations until it becomes self financing through fees charged for determination (registration) of projects and verification of emission reductions.

"Cancelling these regular meetings of the JISC should send a clear message to Parties that funds are needed immediately. The special meeting planned in its place is an attempt to gain meaningful policy and regulatory support from Parties and generate the level of market activity that this mechanism deserves," Mr. Leguet said.

Under JI track II, projects and emission reductions are vetted by third-party certifiers, the UNFCCC secretariat and the JISC according to rules laid down by the Parties to the Kyoto Protocol and the JISC. Countries are foregoing JI track II often in favour of JI track I, which is overseen by the country hosting the project according to rules set by the country.

"Project participants recognize the value of JI track II, and the emission reduction units it produces are recognized for their quality, but it's difficult to compete with JI track I. When you also consider that countries borrow heavily, free of charge, from the regulations developed by the JISC and make use of certifiers accredited by the JISC, it's clear the funding model needs fixing," Mr. Leguet said.

In an important step expected to streamline and clarify the vetting of projects while maintaining assurance of quality, the JISC has adopted rules regarding materiality. The new rules allow the mechanism's accredited third-party certifiers to focus their attention on aspects of a project that are likely to have a "material" effect on the quality and amount of emission reductions achieved by the project, within parameters set by the JISC.
For a full report of the meeting see <http://ji.unfccc.int/Sup_Committee/Meetings/index.html>.
About Joint Implementation under the Kyoto Protocol
Through the JI mechanism, a country with an emission-reduction limitation commitment under the Kyoto Protocol may take part in an emission-reduction (or emission removal) project in any other country with a commitment under the Protocol, and count the resulting emission reduction/removal towards meeting its Kyoto target.

JI projects earn emission reduction units (ERUs), each equivalent to one tonne of CO2. All emission reductions must be real, measurable, verifiable and additional to what would have occurred without the project.

Under JI there are two "tracks" by which projects can apply for approval: Party-verification and international independent body verification (projects vetted through the JISC).

The mechanism is overseen by the JI Supervisory Committee, which answers ultimately to the Parties that have ratified the Protocol.