24 November 2014: The UNFCCC Secretariat has published three technical papers on market and non-market mechanisms under the Convention, for consideration by the Subsidiary Body for Scientific and Technological Advice (SBSTA) at its 41st session taking place in Lima, Peru, in December 2014.

The first technical paper is on the framework for various approaches (FCCC/TP/2014/9). The paper assesses: approaches that have been or are being developed by parties, whether individually or jointly; the three existing mechanisms under the Kyoto Protocol (the Clean Development Mechanism (CDM), International Emissions Trading (IET) and Joint Implementation (JI)); and other relevant approaches, such as those that have been or are being developed by subnational authorities or non-governmental organizations (NGOs). It assesses the operation of these approaches, including how each may, among other things, meet standards comparable to the UNFCCC’s, enable international accounting of mitigation outcomes, and allow for participation. The technical paper also identifies possible implications of a framework for various approaches, for further consideration by parties.

The second technical paper is on non-market-based approaches (FCCC/TP/2014/10). It assesses a range of non-market-based approaches that are being implemented or developed for relevant experience and good practice, and draws possible ideas and lessons learned regarding international cooperation on non-market-based approaches for further consideration by parties. The paper also examines the possible implications for the SBSTA work programme on non-market-based approaches.

The third technical paper is on the design and operation of the new market-based mechanism (NMM) (FCCC/TP/2014/11). The NMM was defined by the 17th session of the Conference of the Parties (COP 17) to the UNFCCC, and parties are in the process of elaborating its modalities and procedures under. The technical paper assesses the technical options for the design and operation of the NMM and identifies possible implications for further consideration by parties. [Publication: Technical Paper on the Framework for Various Approaches] [Publication: Technical Paper on Non-Market-Based Approaches] [Publication: Technical Paper on the New Market-Based Mechanism]