Joint Implementation by the Netherlands Maurits Henkemans Ministry of Economic Affairs Netherlands...
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Joint Implementation by the Netherlands Maurits Henkemans Ministry of Economic Affairs Netherlands 26-5-2004 Moscow
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Joint Implementationby the Netherlands
Maurits HenkemansMinistry of Economic Affairs Netherlands 26-5-2004 Moscow
Who is buying?In percent of volume purchased
USA4%
Canada13%
Australia & New Zealand
1%
Japan23%
Other EU3%
Netherlands30%
PCF26%
2002-2003
Intended realisation by the NetherlandsInstrument Contracted Planned Erupt1-3 8 Cerupt 8 Fin InstitutionsCAF (CDM) 10WB (PCF/IFC) CDM 31EBRD (JI) 6Rabo CDM 10Part PCF CDCF 4 Sub Total 77
ERUPT 4/5 JI (WB) CDM option 23
Total 100
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
Lead Time Impact on CDM and JI
20062003 2008 2012
Operating
Operating
Wind, Efficiency, Waste to Energy
Large Hydro, Geothermal, Coal to Gas Power
Second Commitment Period Rules and Targets Need to be decided by 2006 to ensure continuity in CDM Market Development
5 year average
Pre-feasibility
Pre-feasibility
= Start Construction
Following Issue’s I want to discuss
Dutch climate policy Dutch/Russian JI cooperation What is needed for JI and GIS Conclusions
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)
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)
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!!
Dutch Approach to JI
First track JICountry in compliance art 5.7 and 8 Second track JIValidation by Independent EntityAccreditation IE by Supervisory Board Dutch approach start with JI Second
then first trackJI Credits before 2008 change in AA
2008/2012 use Trading art 17
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
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
$0t/Co2
$1t/Co2
$2t/Co2
$3t/Co2
$4t/Co2
$5t/Co2
$6t/Co2
$7t/Co2
$8t/Co2
$0/tC
$5/tC
$10/tC
$15/tC
$20/tC
$25/tC
Options
Non verified ERs
Third-Party verified
Verified and Kyoto compatible
Government approved permits
Carbon prices on past transactions
Based on data provided by Natsource for the PCF, June 2001.
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!
