Legal Aspects of Implementing the Kyoto Protocol Mechanisms
Making Kyoto Work
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Legal Aspects of Implementing the Kyoto Protocol Mechanisms by David Freestone
Book DescriptionThe first protocol to the UN Framework Convention on Climate Change (UNFCCC) was adopted in Kyoto in 1997 and entered into force in February 2005. It is a unique international law instrument which sets legally binding targets for the reduction of emissions of greenhouse gases which contribute to climate change. The targets are unprecedented in an environmental agreement and will involve substantial financial commitment in virtually all industrialized country parties to the protocol. The Kyoto Protocol is also the first international agreement to include economic instruments which are designed to involve private sector entities and assist parties to meet their targets. These economic instruments, known as the Kyoto or flexible mechanisms, are Joint Implementation (JI), the Clean Development Mechanism (CDM), and International Emissions Trading. The Kyoto Protocol defined these mechanisms but did not set out the details necessary for their operation. After protracted negotiations, detailed rules were finalized at the Seventh Session of the UNFCCC Conference of the Parties held in Marrakech in 2001. The Marrakech Accords run to almost 250 pages but still leave many important practical issues unaddressed. As the 2008-2012 commitment period of the Kyoto Protocol draws close more and more projects under CDM and JI are being developed to take advantage of the Kyoto mechanisms and the key issues and problems are now becoming more apparent. Drawing on the emerging body of expertise in this complex area, this book conveys a knowledge of what is becoming known as 'Carbon Finance'. It thereby aims to contribute to the development of the market for carbon emission reductions - one of the objectives of the Kyoto mechanisms.
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Book DetailsISBN: 9780199279616
(242mm x 164mm x 42mm)
Imprint: Oxford University Press
Publisher: Oxford University Press
Publish Date: 3-Feb-2005
Country of Publication: United Kingdom
Books By Author David Freestone
Legal Aspects of Carbon Trading, Hardback (October 2009)
Since 2005 the carbon market has grown to nearly $100 billion per annum, including the EU Emissions Trading Scheme and other schemes. This work covers the legal aspects of these schemes, as well as reform of the ETS, and the successor regime to the 1997 Kyoto Protocol currently being negotiated. It will be invaluable to those involved in the field.
Law of the Sea, Hardback (July 2006)
Presents a collection of essays on the law of the sea. This book focusses on topics of long-standing and contemporary concern, such as navigation, security and the protection of natural resources.
International Law and Sustainable Development, Hardback (September 1999)» View all books by David Freestone
This is a collection of essays which cover some of the most important contemporary issues in law relating to sustainable development, the utilization of natural resources, and the protection of the environment.
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Author Biography - David Freestone
Dr Charlotte Streck is Senior Counsel at the World Bank in Washington, D.C.
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