Annual report of the Joint Implementation Supervisory Committee to the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol.
This report covers the work carried out by the Joint Implementation Supervisory Committee (JISC) between 24 September 2013 and 17 September 2014. The report expresses the firm view of the JISC that the joint implementation (JI) mechanism has an important continuing role to play in helping Parties achieve the ultimate objective of the Convention. However, activity under the JI mechanism has been in severe decline since the end of the first commitment period of the Kyoto Protocol. Prevailing levels of mitigation ambition, slow progress in the ratification of the second commitment period of the Protocol and the inability to issue emission reduction units without assigned amount units from the second commitment period all threaten the existence of the JI mechanism. This report contains recommendations on facilitating a smooth transition of the mechanism from its current operation under the “Guidelines for the implementation of Article 6 of the Kyoto Protocol” to operation under the revised guidelines, currently being considered by Parties. Finally, it reports on the status of the financial resources available for the work on JI