ABSTRACT
It is immediately apparent that joint implementation (JI) mechanisms operate in the context of multiple objectives which include at least: the environmental goal of achieving real reductions in greenhouse gas emissions, the social goal of protecting or enhancing equity and the economic goal of cost effectiveness in meeting environmental targets. The environmental goal of the Framework Convention on Climate Change (FCCC) is mainly enshrined – for the moment at least – in the quantified emission limitation and reduction commitments negotiated under the Kyoto Protocol. The concept of additionality in relation to JI was first introduced at the first Conference of the Parties in 1995, in the context of approval criteria for pilot-phase activities implemented jointly projects. Equity is an important consideration in international conventions such as the FCCC. Consultation and participation of stakeholder groups is seen as critical to the successful implementation of procedural equity. The argument from economic efficiency is critical to justifying JI.
