Mechanisms of the Kyoto Protocol

The Kyoto Protocol mechanisms - Joint Implementation Projects (JIPs) - started in Russia with the delay of three years. The first JIP on capturing associated gas is performed in the Yamalo-Nenets district. The Reuters Group reported that Japanese JIP partners receive the quota of 290,000 tonnes of CO2 equivalent, the emissions reduction due to the project). To implement the current potential of JIPs by the end of 2012, Russia has to perform thousands of projects.

Yamalo-Nenets Autonomous District numbers 10 projects on GHG emissions reduction. These projects will secure total CO2 emissions reduction of about 18 million tons by 2012 and are likely to bring about 125 million Euro of investments to the regional economy. Will they be implemented within the Joint Implementation mechanism of the Kyoto Protocol?

On the 1st of November the Savings Bank of Russia announced the start of examination of the applications for the second call for Joint Implementation Projects (JIPs) in the framework of the Kyoto Protocol. The competition results has not been made public yet. Russia can benefit 40 billion euros of foreign investments and up to 300 million tons of CO2 emissions reductions due to cooperation within the JIPs.