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Joint Implementation (JI) is one of the so-called flexible mechanisms put in place by the Kyoto Protocol to make it easier for industrialized countries to meet their emission-reduction commitments under the protocol. Specifically, JI allows industrialized countries to sponsor or collaborate with Eastern European countries (Countries in Transition-CIT) in the establishment of low-carbon development projects. The idea is that by sponsoring such low-carbon development projects, it will be possible to reduce the amount of emissions that would otherwise have occurred if the CIT were to follow cheaper, high-carbon development pathways. At the same time, it is considered that investing in such projects will provide the opportunity for the transfer of technology while allowing the industrialized countries to make emissions reductions in locations where they would get the highest result per amount of money spent. The policy is, however, not restricted to deals between developed and CIT countries, but also allows for collaboration between two or more industrialized countries.