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Erschienen in:
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2016 | OriginalPaper | Buchkapitel

3. International Efforts to Tackle Climate Change

verfasst von : Marc Chesney, Jonathan Gheyssens, Anca Claudia Pana, Luca Taschini

Erschienen in: Environmental Finance and Investments

Verlag: Springer Berlin Heidelberg

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Abstract

First scientific evidence of human activity affecting the world’s climate emerged during the World Climate Conference (WCC) held in February 1979 in Geneva. For the first time, a large group of politicians was concerned about human interferences with climate and the environment. As a result of global attention to climate change, the United Nations Environmental Program and the World Meteorological Organization established the International Panel on Climate Change (IPCC) in 1988.

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Vorheriges Kapitel The Issue of Climate Change
Nächstes Kapitel The Economics of Mitigation
Fußnoten
1
We refer the interested reader to the UNFCCC website for an updated and detailed list. As of October 2009, UNFCCC has 194 parties.
 
2
UNFCCC – Article 2.
 
3
The UNFCCC Reporting Guidelines on Annual Inventories require Parties included in Annex I to the Convention (Annex I Parties), by 15 April each year, to provide annual national GHG inventories covering emissions and removals of direct GHGs (CO2, CH4, N2O, HFCs, PFCs and SF6) from six sectors (Energy, Industrial processes, Solvents, Agriculture, LULUCF, Waste), and for all years from the base year or period to the most recent year.
 
4
The KP covers six main GHG: Carbon dioxide (CO2), Methane (CH4), Nitrous oxide (N2O), Hydrofluorocarbons (HFC), Perfluorocarbons (PFC), and Sulphur hexafluoride (SF6).
 
5
The targets differ per country; see Kyoto Protocol Article 3, Sections 5–8 for more details.
 
6
Annex I countries without Belarus and Turkey.
 
7
In 2008, the EUTL replaced the former Community Independent Transaction Log (CITL).
 
8
We refer here to the UNFCCC Article 7, al. 2.
 
9
The Copenhagen Accord, in its final formulation stated the need for additional adaption finances as such: “Adaptation to the adverse effects of climate change and the potential impacts of response measures is a challenge faced by all countries. Enhanced action and international cooperation on adaptation is urgently required to ensure the implementation of the Convention by enabling and supporting the implementation of adaptation actions aimed at reducing vulnerability and building resilience in developing countries, especially in those that are particularly vulnerable, especially least developed countries, small island developing States and Africa. We agree that developed countries shall provide adequate, predictable and sustainable financial resources, technology and capacity-building to support the implementation of adaptation action in developing countries.”
 
10
COP 16, 2010, Outcome of the work of the Ad Hoc Working Group on Long-term Cooperative Action under the Convention.
 
11
Installations are included in the EU ETS if they pass a certain capacity threshold. For instance, energy industries must have combustion installations with a rated thermal input exceeding 20 MW.
 
12
Ex-post adjustment means that a member state plans to intervene in the market once the allocation is made with the aim of redistributing allowances among companies.
 
13
Initial Assessment of national allocation plans for phase II of the EU ETS, ECOFYS, November 2006.
 
14
The excess emission penalty fee for the 2005–2007 trading period was EUR 40.
 
15
Shipping will be considered for inclusion at a latter stage. For sectors not covered by the EU ETS, an average GHG reduction of 10 % should be achieved, proportionate to countries’ GDP.
 
16
To be compared to the allocation of 2.08 billion tons for the second trading period.
 
17
Provided that the additional quantity does not exceed 50 % of EU-wide reduction between 2008 and 2020.
 
18
The nine RGGI states are: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
 
19
To participate in a CDM project, developing countries should have ratified the Kyoto Protocol (“a Party not included in Annex I may participate in a CDM project if it is a Party to the Kyoto Protocol”, Art. 12).
 
20
Paragraph 5, Article 12.
 
21
The Marrakesh Accords define the baseline for a CDM project activity as the scenario that reasonably represents the anthropogenic emissions by sources of GHG that would occur in the absence of the proposed project activity.
 
22
Readers interested in a more detailed view of the stages and rules of the CDM should refer to the CDM Rulebook website (www.​cdmrulebook.​org), a joint effort by the legal practice Baker & McKenzie and eight donor organizations.
 
23
It is often assumed that the CDM EB is solely responsible for the registration of projects. The actual process is slightly more complex: after being processed by the UNFCCC secretariat, a validated project submission is reviewed by a Registration and Issuance Team (EB-RIT) appointed by the CDM EB. Based on this team’s input, the CDM EB either approves or rejects the proposed project activity.
 
24
Financing usually takes the form of an Emissions Reduction Purchase Agreement (ERPA) that legally binds transfers of carbon credits from the project in exchange for scheduled payments.
 
25
Over the period 2002–2008, China accounted for 66 % of all contracted CDM supply in the market.
 
27
Two of the most important requirements are (i) the national system for the estimation of anthropogenic emissions and (ii) the national registry which has to be in place in accordance with Article 7 of the Kyoto Protocol. See paragraphs 21 and 23 of the JI guidelines for further details.
 
28
Paragraph 30–45 JI Guidelines Decision 9/CMP.1.
 
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Metadaten
Titel
International Efforts to Tackle Climate Change
verfasst von
Marc Chesney
Jonathan Gheyssens
Anca Claudia Pana
Luca Taschini
Copyright-Jahr
2016
Verlag
Springer Berlin Heidelberg
Buch
Environmental Finance and Investments

Print ISBN: 978-3-662-48174-5

Electronic ISBN: 978-3-662-48175-2

Copyright-Jahr: 2016

DOI
https://doi.org/10.1007/978-3-662-48175-2_3