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| title | chunk | source | category | tags | date_saved | instance |
|---|---|---|---|---|---|---|
| Flexible mechanisms | 3/3 | https://en.wikipedia.org/wiki/Flexible_mechanisms | reference | science, encyclopedia | 2026-05-05T07:18:11.435428+00:00 | kb-cron |
One of the main arguments made in favour of the flexibility mechanisms is that of cost-effectiveness. The principle of cost-effectiveness is included in the UN Framework Convention on Climate Change (UNFCCC). The economic basis of costs being reduced through flexibility is discussed in emissions trading#Applying the economic theory and economics of climate change mitigation#Flexibility. A number of concerns were raised about flexibility in the lead-up to negotiations of the Kyoto Protocol. Two examples of issues raised were that of domestic emissions reductions in the developed countries, and the issue of developed countries effectively taking up all the low-cost emissions reductions in developing countries. The idea behind the first view was that most emissions reductions should occur first in the developed countries - this would encourage the development of low-carbon energy technologies which could then be taken up later on by developing counties. The second idea was that all of the low-cost emissions reductions in developing countries would, in effect, be stolen by the developed countries. Thus, when it came time for developing countries to take on their own commitments to reduce emissions, it would be more costly for them to do so. Differing views on flexibility were summarized in the Intergovernmental Panel on Climate Change's (IPCC) Second Assessment Report. The basic economic argument in favour of flexibility was that, in principle at least, issues to do with fairness ("equity" in the language of economics) could be separated from efficiency (i.e., reducing emissions most cheaply). From this viewpoint, flexibility through emissions trading could promote efficiency, while arguments of equity could be partially addressed through, for example, the allocations of emissions rights between different countries. During negotiations, the US was a supporter of flexibility, while several other negotiating parties were in favour of uniform emissions cuts (e.g., the Alliance of Small Island States, AOSIS). In the end, flexibility was incorporated into Kyoto's design, but the treaty still places an emphasis on developed countries achieving the bulk of their emissions reductions domestically, rather than in developing countries (i.e., by using the Clean Development Mechanism, CDM). The balance between domestic emissions reductions in developed countries and reductions through the CDM is not, however, quantified.
=== Issues raised since implementation === Since the implementation of the flexibility mechanisms, a number of other concerns have been raised. There have been various criticisms of the CDM (see Clean Development Mechanism for details). These include excess profits generated by CDM projects designed to reduce emissions of industrial gases, adverse effects of projects on local communities, and the failure of the CDM to promote development in the poorest regions of the world. Criticisms have also been made of the various emissions trading schemes set-up by developed countries to meet their first-round Kyoto targets. These criticisms are discussed in the individual articles on these trading schemes: see Kyoto Protocol#International Emissions Trading for a list of these trading schemes. For example, the environmental organization Friends of the Earth (EWNI) has called for the EU Emissions Trading System (EU ETS) to be scrapped, and be replaced by other policies (e.g., energy efficiency standards), which they argue would be more effective than the EU ETS at reducing emissions. The articles referred to above also contain policy measures proposed by governments and commentators to address some of these criticisms.
== Successor == Cooperative Mechanisms under Article 6 of the Paris Agreement is the successor and the transition is expected to be completed by 2025: what to do about the old carbon credits has to be decided.
== See also == Carbon accounting Clean Development Mechanism Joint Implementation Kyoto Protocol Verified Carbon Standard
== Notes ==
== References == IPCC SAR WG3 (1996), Bruce, J.P.; Lee, H.; Haites, E.F. (eds.), Climate Change 1995: Economic and Social Dimensions of Climate Change (PDF), Contribution of Working Group III (WG3) to the Second Assessment Report (SAR) of the Intergovernmental Panel on Climate Change (IPCC), Cambridge University Press, ISBN 0-521-56051-9{{citation}}: CS1 maint: numeric names: authors list (link) (pb: 0-521-56854-4) IPCC TAR WG3 (2001), Metz, B.; Davidson, O.; Swart, R.; Pan, J. (eds.), Climate Change 2001: Mitigation, Contribution of Working Group III to the Third Assessment Report of the Intergovernmental Panel on Climate Change, Cambridge University Press, Bibcode:2001ccm..book.....M, ISBN 0-521-80769-7, archived from the original on 2017-02-27, retrieved 2019-12-17{{citation}}: CS1 maint: numeric names: authors list (link) (pb: 0-521-01502-2). IPCC AR4 WG3 (2007), Metz, B.; Davidson, O.R.; Bosch, P.R.; Dave, R.; Meyer, L.A. (eds.), Climate Change 2007: Mitigation of Climate Change, Contribution of Working Group III (WG3) to the Fourth Assessment Report (AR4) of the Intergovernmental Panel on Climate Change (IPCC), Cambridge University Press, ISBN 978-0-521-88011-4, archived from the original on 2014-10-12, retrieved 2012-09-30{{citation}}: CS1 maint: numeric names: authors list (link) (pb: 978-0-521-70598-1). Spash, C.L. (2010), "The Brave New World of Carbon Trading" (PDF), New Political Economy, 15 (2): 169–195, doi:10.1080/13563460903556049, S2CID 44071002, archived from the original (PDF) on 2013-05-10, retrieved 2012-09-30
== External links == Emissions Trading UNFCCC pages on ET Joint Implementation UNFCCC pages on JI Clean Development Mechanism Archived 2011-08-28 at the Wayback Machine UNFCCC pages on CDM