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Joint Implementation by the Netherlands

Joint Implementation by the Netherlands. Maurits Henkemans Ministry of Economic Affairs Netherlands 26-5-2004 Moscow. Who is buying? In percent of volume purchased. 2002-2003. Intended realisation by the Netherlands. Instrument Contracted Planned Erupt1-3 8

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Joint Implementation by the Netherlands

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  1. Joint Implementationby the Netherlands Maurits Henkemans Ministry of Economic Affairs Netherlands 26-5-2004 Moscow

  2. Who is buying?In percent of volume purchased 2002-2003

  3. Intended realisation by the Netherlands Instrument Contracted Planned • Erupt1-3 8 • Cerupt 8 Fin Institutions CAF (CDM) 10 WB (PCF/IFC) CDM 31 EBRD (JI) 6 Rabo CDM 10 Part PCF CDCF 4 Sub Total 77 ERUPT 4/5 JI (WB) CDM option 23 Total 100

  4. What is Needed for JI in Russia? • Ratification of Kyoto Protocol • Responsible Minister that can sign letter of Approval (before 27 June) • Implementation article 5, 7 and 8 Kyoto • Good Portfolio of CO2 reduction Projects • Public awareness /Transparency and Dialog

  5. Lead Time Impact on CDM and JI 5 year average Wind, Efficiency, Waste to Energy Pre-feasibility Operating Large Hydro, Geothermal, Coal to Gas Power Pre-feasibility Operating 2006 2008 2003 2012 Second Commitment Period Rules and Targets Need to be decided by 2006 to ensure continuity in CDM Market Development = Start Construction

  6. Following Issue’s I want to discuss • Dutch climate policy • Dutch/Russian JI cooperation • What is needed for JI and GIS • Conclusions

  7. Dutch Climate Policy • Get a CO2 World Market for Efficient Climate Policy • -6% CO2 reductions in period 1990 - 2008/2012 • 40 Mton a year • 50% national instruments • 50% flexible instruments (JI/CDM en ET)

  8. Dutch JI/CDM Programme 2004 • Budget 200 mln EURO for JI Min of Economic Affairs • Budget 350 mln EURO for CDMMin of Environment • In accordance with EU/OECD/Kyoto rules • Target CO2 price 3-5 EUR • Target 100 Mton CO2 (35% JI/65% CDM)

  9. For 100 Mton CO2 we follow five roads • JI Buy ERU’s by ERUPT (ERU-Procurement Tender) • CDM Buy CER’s by CERUPT • Buy ERU’s and CER’s by PCF • Contract with WB/EBRD/IFC and other commercial Banks.. • International Emissions Trading (Between Governments as last resort) • We are well on track!!

  10. Dutch Approach to JI • First track JI Country in compliance art 5.7 and 8 • Second track JI Validation by Independent Entity Accreditation IE by Supervisory Board • Dutch approach start with JI Second then first track JI Credits before 2008 change in AA 2008/2012 use Trading art 17

  11. Why start with JI? • Political more attractive to start with real projects • Good for Russian Companies • Investor countries get used to decision structure in Russia

  12. Conclusions • The Dutch and EU companies and Governments interested in - Gas and Oil from Russia - Interested in JI credits • Investment in Energy sector needed • JI and GIS can help Russian Companies • Quick decisions needed otherwise money goes to CDM

  13. Pro’s and Con’s for JI in Russia • No clear counterpart • No institutions • Investment climate not positive • Big JI potential • Positive for Russian Companies • Foreign interest for JI • EU trading demand for JI not ET!

  14. More info about Dutch JI and CDM and ET policy www.carboncredits.nl l.j.m.blansonhenkemans@ minez.nl

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