18 February 2009: The Kyoto Protocol’s joint implementation (JI) mechanism has accredited its first third party verifier, TÃœV SÃœD Industrie Service GmbH, which will determine the acceptability of emission reduction projects and verify emission reductions achieved.

JI allows Annex I parties to the Kyoto Protocol to implement projects that reduce emissions, or increase removals using sinks, in other Annex I countries. Emission reduction units (ERUs) generated by such projects can then be used by investor Annex I parties to help meet their emissions targets. To date, 170 projects in 12 countries have been submitted for public comment, which is the first step in the selection process before projects are examined by an accredited entity under JI Track 2. These 170 projects are expected to achieve around 300 million tons of emission reductions by the end of the first commitment period of the Kyoto Protocol in 2012. [UNFCCC Press Release]