Overview
The 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.
Full Product Details
Author: David Freestone (Chief Counsel and Head of the Environmentally and Socially Sustainable Development (ESSD) and International Law Group in the Legal Vice Presidency, the World Bank, Washington, DC.) ,
Charlotte Streck (Counsel for International and Environmental Law, the World Bank. Washington, DC.)
Publisher: Oxford University Press
Imprint: Oxford University Press
Dimensions:
Width: 16.40cm
, Height: 4.30cm
, Length: 24.20cm
Weight: 1.166kg
ISBN: 9780199279616
ISBN 10: 0199279616
Pages: 696
Publication Date: 03 February 2005
Audience:
Professional and scholarly
,
Professional & Vocational
Format: Hardback
Publisher's Status: Active
Availability: To order
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.
Reviews
...a remarkable single volume containing cutting-edge, state of the art knowledge on the implementation of the Kyoto mechanisms, domestic emissions trading schemes and transactions of emission reduction credits... I would highly recommend this book ... The editors deserve much credit for this invaluable contribution towards the literature on the Kyoto regime. Jolene Lin, Singapore Year Book of International Law
Author Information
Dr David Freestone is Deputy General Counsel at the World Bank, Washington, D.C. Dr Charlotte Streck is Senior Counsel at the World Bank in Washington, D.C.
