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A regional response to global climate change The Baltic Sea region as a testing ground for for the Kyoto protocol A climate policy initiative by the Baltic Sea Region Energy Cooperation – BASREC - under the CBSS umbrella Starting points Climate change is a global issue.

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a regional response to global climate change

A regional response to global climate change

The Baltic Sea region as a testing ground for for the Kyoto protocol

A climate policy initiative by the Baltic Sea Region Energy Cooperation – BASREC -

under the CBSS umbrella

starting points
Starting points
  • Climate change is a global issue.
  • Reduction of emissions of greenhouse gases is the main abatement instrument
  • From a climate point of view it does not matter where you reduce emissions - the effect is the same on the GHG concentration in the atmosphere
  • Cost-efficiency is of major importance
  • The Climate convention and the Kyoto protocol therefore acknowledge the use of flexible mechanisms like joint implementation
baltic sea region a testing ground for mechanisms
Baltic Sea Region: a testing ground for mechanisms

Tasks decided by the BASREC energy ministers:

  • Write a JI handbook
  • Simulation of emissions trading and arranging a conference on the results
  • Prepare and set up a JI investment facility
  • Prepare a Testing Ground Agreement
  • Information: [email protected] and [email protected]
the basrec ji handbook
The BASREC JI handbook
  • First version of the handbook – now ready – but on-going process, subject to revisions
  • Interpretation of the international agreements– Kyoto Protocol and the Marrakech Accords (COP7), Nov 2001
  • Covers two key areas:
      • Requirements that Parties have to meet to participate in JI - BSR status in meeting them
      • Advice to project developers on the Track 2 procedures, & steps to a succesful ERU purchase agreement
  • translated into Russian and available on website
testing ground framework agreement objectives
Testing ground framework agreement Objectives
  • to build capacity and competence to use the Kyoto mechanisms and promote common understanding of concepts
  • to promote realisation of high quality projects in the energy sector generating emissions reductions
  • to gain experience with the Joint Implementation (JI) mechanism in the energy sector
  • to develop methods and procedures
  • to collaborate in addressing administrative and financial barriers, especially regarding small scale JI projects
  • to facilitate generation, ensure issuance and transfer of ERUs from JI projects
  • to implement projects early and offer credits for emission reductions prior to 2008 by appropriate means
the basrec testing ground agreement
The BASREC Testing Ground Agreement
  • Open to participation for BASREC governments and companies ( and others! )
  • “As if” application of Kyoto rules before start in 2008 on projects within the energy sector. From 2008 and onwards Kyoto rules apply in full
  • Projects to be approved by investor and host country
  • Core element: already decided Testing Ground Facility to invest in JI projects for 10-20 million Euros in BASREC TGA countries
  • Model project agreements and handbook to support activities
testing ground facility
Testing Ground Facility
  • Managed by NEFCO – Nordic Environment Financing Corporation
  • Decision by the Nordic Council of Ministers
  • Initially BASREC investor countries
  • Open for others
  • Fund Management Agreement with NEFCO being finalized right now
basrec work ahead in the climate field
BASREC work ahead in the climate field
  • Implement the testing ground agreement and facility (the agreement has been signed by 9 countries and the TGF is being capitalised)
  • Analyse effects of EU accession
  • Revise and improve the JI-handbook as needed
  • Baseline development in Arkangelsk
  • Continue building capacity and knowledge
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