Joint Implementation and the Second Sulphur Protocol
Review of European Community and International Environmental Law, 4, (4), . (doi:10.1111/j.1467-9388.1995.tb00244.x).
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This article analyzes the role that joint implementation (JI) might play in reducing the costliness of meeting the environmental objectives of the Second Sulphur Protocol (SSP). The experience of JI within two other major environmental agreements (the Framework Convention on Climate Change (FCCC), and the Allowance Trading Program (ATP) in the United States (US) is reviewed to see what lessons might be learned for the SSP. The article argues that the structure of the sulphur protocol limits considerably the potential for cost savings through JI in the short term. In the long term, however, JI will play a large role in the restructuring of the European electricity-generating industry, as existing power plants are replaced with capital which is compatible with the standards of the SSP.
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