Projects
The formal crediting period for JI was aligned with the first commitment period of the Kyoto Protocol, and did not start until January 2008 (Carbon Trust, 2009, p. 20). In November 2008, only 22 JI projects had been officially approved and registered. By 2012, it is expected that the total number of ERUs generated by JI will be around 300 million. This estimate is based on values taken from project plans, and makes no adjustment to account for delivery in practice.
Russia accounts for about two-thirds of these projected savings, with the remainder divided up roughly equally between Ukraine and the EU's New Member States. Emission savings include cuts in methane, HFC, and N2O emissions.
In December 2012, ERU prices crashed to a low of 15c before recovering to 23c after news that EU’s Climate Change Committee was to vote on a ban of ERUs from countries that have not signed up to a second commitment period under the Kyoto Protocol.
Read more about this topic: Joint Implementation
Famous quotes containing the word projects:
“One of the things that is most striking about the young generation is that they never talk about their own futures, there are no futures for this generation, not any of them and so naturally they never think of them. It is very striking, they do not live in the present they just live, as well as they can, and they do not plan. It is extraordinary that whole populations have no projects for a future, none at all.”
—Gertrude Stein (1874–1946)
“But look what we have built ... low-income projects that become worse centers of delinquency, vandalism and general social hopelessness than the slums they were supposed to replace.... Cultural centers that are unable to support a good bookstore. Civic centers that are avoided by everyone but bums.... Promenades that go from no place to nowhere and have no promenaders. Expressways that eviscerate great cities. This is not the rebuilding of cities. This is the sacking of cities.”
—Jane Jacobs (b. 1916)