Annex B of the Kyoto Protocol sets out specific targets for certain industrialised countries to reduce or limit their greenhouse gas emissions by reference to their 1990 emissions levels. To allow the countries listed in Annex B to comply with their obligations in the most efficient manner, three flexible mechanisms were developed - the Clean Development Mechanism (CDM), Joint Implementation (JI) and emissions trading.
Under JI, one Annex I Party may implement an emission-reducing project or a project that enhances removals by sinks in another Annex I Party and by doing so generate Emission Reduction Units (ERUs) that will count towards meeting its own Kyoto target. Parties can also authorise legal entities to take part in JI projects.
Baker & McKenzie will be developing a similar guide for the JI rules and procedures. The site will be launched next year and will be available at www.jirulebook.org.