The submission on various approaches to the Ad Hoc Working Group on Long-Term Cooperative Action (AWG LCA) from Australia, Canada, Japan, Kazakhstan, New Zealand, Russian Federation, Ukraine and the US proposes elaboration of a framework for the purpose of facilitating the development and implementation of, and coordinating interaction among, existing and emerging market-based approaches that result in international transfers of mitigation outcomes, in a transparent manner that provides assurance of environmental integrity.
29 November 2012: The UNFCCC Secretariat has circulated a submission to the Ad Hoc Working Group on Long-Term Cooperative Action (AWG LCA) from Australia, Canada, Japan, Kazakhstan, New Zealand, Russian Federation, Ukraine and the US on various approaches, including opportunities for using markets, to enhance the cost-effectiveness of, and to promote, mitigation actions.
Focusing on market-based approaches, the submission proposes the elaboration of a framework for the purpose of facilitating the development and implementation of, and coordinating interaction among, existing and emerging market-based approaches that result in international transfers of mitigation outcomes, in a transparent manner that provides assurance of environmental integrity. The roles of the framework, to be elaborated by the Subsidiary Body for Implementation, should be to: provide for exchange of information on standards to deliver mitigation outcomes from market-based approaches; assure transparency on standard application and international transfers of mitigation outcomes; and assure avoidance of double counting of effort from mitigation outcomes. [Publication: Submission from Australia, Canada, Japan, Kazakhstan, New Zealand, Russian Federation, Ukraine and the US]