Norway and the Kyoto mechanisms
Norway and the Kyoto mechanisms
| Norway was responsible for introducing the concepts of emission allowance trading and other use of market mechanisms into the negotiations for the UN Climate Convention and later into the negotiations for the Kyoto Protocol. These flexible mechanisms were initially met with resistance from the EU. However, the USA, who at a national level had experience of convertible sulphur allowances for coal-fired power stations, was convinced over time. Together with Norway, the USA became a promoter of the flexible mechanisms of the Kyoto Protocol. |
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The EU eventually agreed to these mechanisms, and the Kyoto Protocol paved the way for (1) emission allowance trading, (2) climate-related activities in developing countries and (3) co-operative projects between industrial countries, together known as the Kyoto mechanisms.
This includes:
(1) Purchase of emission rights from other industrial countries (Emissions Trading – allowance trading)
(2) Financing of approved projects for reducing emissions in developing countries (CDM – Clean Development Mechanism)
(3) Financing of approved projects aimed at reducing emissions in other industrial countries (Joint Implementation).
To a certain degree, the Kyoto Protocol also paves the way for forestry and agriculture-based activities to be used as a means of meeting the emission reduction targets. International air and marine traffic is not included in the Kyoto Protocol.