Overview of the Kyoto Mechanisms

This paper provides an overview of the three Kyoto mechanisms?joint implementation, the Clean Development Mechanism (CDM), and international emissions trading. These mechanisms enable parties to the Kyoto Protocol with emissions limitation commitments for 2008 to 2012 (Annex B parties) to meet those commitments at lower cost. Projects under the CDM also contribute to the sustainable development of the non-Annex B host parties. At present only the CDM is operational. The other mechanisms will begin operation after the protocol enters into force. After documenting the progress in implementing the Kyoto mechanisms, features common to two or more of them are discussed. Then each mechanism is described. The paper concludes with an overview of the key features of the three mechanisms

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http://pub.iges.or.jp/modules/envirolib/view.php?docid=433
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