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XVII. Flexibility Mechanisms

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Chapter Summary

Within the air pollution regime, one possibility by which countries in economic transition may be assisted in reducing their emissions is through Joint Implementation (JI). In 1996 the United States and a number of other developed countries began arguing for a new type of flexibility regime that, unlike JI, allowed implementation agreements jointly between developed and developing countries. This idea, which evolved into the Clean Development Mechanism (CDM) allowed for certified emission reductions from one Party to be acquired from another Party and counted towards their respective totals, found its way into the Protocol. Emissions trading was vigorously pursued because not only would it allow countries which failed to meet their greenhouse reduction targets achieve their goals by trading with other nations which possessed excess greenhouse gas emissions to exchange, it could also do so at a much cheaper economic cost.

Keywords: air pollution regime; Clean Development Mechanism (CDM); emissions trading; flexibility mechanisms; greenhouse reduction; joint implementation (JI)



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