Flexibility in Climate Policy - Making the Kyoto Mechanisms Work

Hardback  240 pp  ISBN 9781853837050      £80.00

Softcover  240pp  ISBN 9781853837067      £23.00

Since the adoption of the Kyoto Protocol to the United Nations Framework Convention on Climate Change in 1997, the negotiation of policy responses to climate change has become an area of major research. This authoritative volume sets out the main debates and processes of €joint implementation€ € bilateral or multilateral investments in greenhouse gas emission reduction or sequestration € and explores the issues involved in constructing an appropriate institutional framework.

It examines the key economic, environmental, social and ethical impacts, and assesses the operational design of the flexibility mechanisms of joint implementation, including 'emissions trading' and the Clean Development Mechanism. A unique approach is developed in which streamlined assessment procedures are combined with institutional safeguards in order to balance the demand for practical mechanisms with the environmental objectives of the Protocol. It provides detailed case studies of energy sector investment in eastern European host countries.

This book will have a major impact on the contemporary debates on climate policy in the wake of the Kyoto Protocol. Definitive, authoritative and accessible, it will be essential reading for policy-makers in both international relations and environmental studies and for students and researchers.

Contents

List of Figures, Tables and Boxes
Acronyms and Abbreviations
About the Contributors
Foreword
Preface
Acknowledgements
Beyond Joint Implementation: An overview and summary of the argument
The Language of Flexibility: Operational forms of joint implementation
Objectives of Joint Implementation: Towards a multicriteria evaluation framework
The Baseline Question: Dealing with the problem of counterfactuality
Environmental and Social Aspects of Joint Implementation: Methodologies and case study results
Accounting for Emissions Reductions and Costs: Methodology and case study results
Uncertainty and Sensitivity Analysis: Methodology and case study results
Measures for Managing Flexibility: Dealing with complexity and uncertainty
Evaluating Joint Implementation Options: An illustrative analysis
Appendix 1: Analysis of Crediting Regimes
Notes
References
Index