Compliance and Emissions Trading under the Kyoto Protocol: Rules for Uncertain Inventories

The Kyoto Protocol makes provisions for carbon sinks from forest management to be taken into account as a contribution towards fulfilling a country's emission reduction target. Additional emission allowances are allocated for these forest carbon sinks. If Switzerland uses this extra contingent of allowances to the full it would then only have to reduce emissions by 4.5% instead of the actual target of 8%. Emission allowances from carbon sinks can be traded on the emissions trading market and be claimed by forest owners. An assessment of the income that could be anticipated was carried out in four forestry companies: with the CO2 price set at 10 CHF per ton it was seen that a potential revenue of between 6 and 71 CHF per hectare and year could be realised. However, the legal basis for allocating emission allowances from carbon sinks to forest owners has yet to be created. In view of the fact that the two chambers of Parliament refused the introduction of the Forests Act Revision Bill, it is not clear if and in what form this will be done. For the period after 2012, the rules will be renegotiated at the international level and it is expected that the carbon stored in harvested wood products will be taken into account. Accordingly, wood removed from the forest would no longer be automatically counted as a CO2 source in the emission balance.

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Delinking the New Zealand Emissions Trading Scheme from the Kyoto Protocol: comparing theory with practice

Climate Policy ◽

10.1080/14693062.2021.1879722 ◽

2021 ◽

pp. 1-12

Author(s):

Suzi Kerr ◽

Judd Ormsby ◽

Dominic White

Keyword(s):

New Zealand ◽

Kyoto Protocol ◽

Emissions Trading ◽

Emissions Trading Scheme ◽

Trading Scheme

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Canadian Challenges in Implementing the Kyoto Protocol: A Cause for Harmonization

Alberta Law Review ◽

10.29173/alr489 ◽

2020 ◽

Author(s):

Elisabeth DeMarco ◽

Robert Routliffe ◽

Heather Landymore

Keyword(s):

Kyoto Protocol ◽

Emissions Trading ◽

Legal Issues ◽

Current Status ◽

Trading System ◽

Trading Systems ◽

Legal Context ◽

Ghg Reduction ◽

The Impact ◽

Emissions Trading System

On 17 December 2002, Canada ratified the Kyoto Protocol to the United Nations Framework Convention on Climate Change (Kyoto Protocol), taking on binding targets to reduce Canadian emissions of greenhouse gases (GHGs). Canada's ratification decision and the proposed domestic emissions trading system forming part of Canada's Kyoto implementation plan continue to be the source of considerable disagreement and conflict between the provinces and thefederal government regarding: the practical challenges associated with multiple Canadian jurisdictions implementing emissions trading systems: the current status and legal issues associated with covenants between industry and government(s) to enforce GHG reduction targets; the legal jurisdiction over domestic emissions trading system(s); and the impact on interprovincial and international trade. Each ofthese issues is examined in the unique Canadian legal context. The authors conclude that many ofthe most significant challenges may be mitigated through harmonization and coordination byfederal and provincial governments in a manner that allows for local concerns to be addressed without fragmenting the Canadian emissions markets.

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Principles of Kyoto and Emissions Trading Systems: A Primer for Energy Lawyers

Alberta Law Review ◽

10.29173/alr488 ◽

2020 ◽

Author(s):

Brian Evans

Keyword(s):

Climate Change ◽

Kyoto Protocol ◽

Emissions Trading ◽

Policy Instruments ◽

Trading Systems ◽

Policy Responses ◽

Legislative Authority ◽

Depth Analysis ◽

Potential Impact

The Kyoto Protocol defines new emissions standards to be met by the international community in respect of greenhouse gases, the aim of which is to curb the present trend of adverse climate change. The specific responses of ratifying governments to bring about the desired changes will significantly impact citizenry and industry alike. This article addresses the issues surrounding emissions trading systems as market-based policy instruments that may ultimately contribute to Canada s legislative response to the Kyoto standards. Central to this question is the need to familiarize legal practitioners with the implications of climate change and the range of policy responses available to government in the context of emissions trading systems. The author examines responses open to the governments of Canada and Alberta through a review of the international reaction to climate change, the role of emissions trading in environmental regulation generally and the anticipated use of emissions trading to comply with the Kyoto Protocol in the future. The author presents an in-depth analysis of the principles underlying the design of domestic emissions trading systems, of the legislative authority surrounding their implementation and of the need for affected businesses to strategically plan for ensuing changes. The author concludes that while Canada has not yet adopted a policy on domestic emissions trading systems in respect of the Kyoto Protocol, the potential impact of emission standards on domestic sources is pronounced, meriting an inspection of the design features that may form a pan of such trading schemes.

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