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JI Track 2 process ready to be launched

19 September 2006 -- During the meeting, the JISC took up the last outstanding JI project submission formats and guidance documents, as well as the JI accreditation procedures and application forms, which are required to allow JI Track 2 to become operational. 

Industrialized countries can use allowances earned through joint implementation  projects – emission reduction units, or “ERUs” – to meet their emission reduction commitments under the Kyoto Protocol.

Whilst the JI’s Track 1 process may only be applied if the host Party fully meets all eligibility requirements, the Track 2 provision allows Parties to issue and transfer ERUs if only the basic eligibility requirements are met, provided the projects go through the verification procedures under the JISC (Track 2). The official launch of the JI Track 2 process is scheduled for October 26. As of that date, independent entities will be able to submit project design documents to the UNFCCC secretariat via a dedicated interface on its JI website.

The JISC agreed that although the accreditation procedures of independent entities were approved at this meeting, they would only enter into force as of 15 November in order to allow time for preparation of applications from the Designated Operational Entities (DOEs) under the CDM acting provisionally under JI at present (in accordance with decision 10/CMP.1).  The JISC indicated the need to seek measures to reduce cost and time needed for accreditation of DOEs, but decided not to adopt a formal “fast track” accreditation procedure for DOEs after taking into account inputs from its Accreditation Panel.  The committee also decided on the provisions for charging fees to cover the administrative costs of its work.  The structure and levels of the fees agreed were similar to those under the CDM (proportional to ERU generation, preferential treatment for small-scale projects).

Finally, the JISC agreed on its Management Plan, however noting the significant shortfall in supplementary funding. In this regard, the committee recognized the need to further encourage contributions from Parties in order to sustain the work of the JISC.