According to Decision 11/CMP.7 paragraph 14 admitted UNFCCC observer organizations are invited to submit views, on the revision of the joint implementation guidelines, taking into account, as appropriate, their experience of implementing the mechanisms under the Kyoto Protocol. The above mentioned NGOs welcome the opportunity to submit their views.
First we must put the future of the Joint Implementation mechanism (JI) in context. The window of opportunity to prevent catastrophic climate change is rapidly closing. Several studies show that current pledges are not only woefully insufficient to keep warming below 2oC; loopholes, such as the surplus allowances (AAUs) from the first Kyoto commitment period (commonly referred to as ‘hot air’) could negate all current pledges and enable developed countries to meet mitigation targets while continuing with business‐as‐usual.1 2 We are now on an emissions path that could lead to warming of 4oC or more. In addition, impacts associated with 2oC have been revised upwards and are now considered ‘dangerous’ and ‘extremely dangerous’.
Maintaining a reasonable likelihood of limiting temperature increases to within 2°C will require commitments in the next few years to considerably higher levels of ambition by all nations.
This submission highlights the need to ensure a robust governance structure and environmental integrity, need for more transparency, proper consideration of JI projects renewing crediting period and their general treatment during the gap period, a review process for accredited independent entities, appeals procedure and the share of proceeds for JI projects.