The Greenhouse Gas Reduction scheme is a cap-and-trade mechanism designed to reduce the greenhouse gas emissions of electricity producers, retailers, high emitting industries and facilities. These include power generators, electricity retailers, large energy users (over 100GWh/year) and ‘market customers’ – facilities such as factories that take electricity supply directly from the national grid.
Utilities, including water, sanitation, power generation
The Regional Greenhouse Gas Initiative (RGGI) is the first mandatory cap-and-trade greenhouse gas emissions reduction scheme in North America. As an initiative of the Northeast and Mid-Atlantic States of the US it brings together 10 states –Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont.
Biodiversity offsets are a form of conditional environmental financing. Like their more well-known cousin, carbon offsets, various parties (e.g. governments, companies or individuals) look to offset the damage they cause in one location by purchasing offset credits from an alternative location.
The Voluntary Emissions Reduction VER Standard is for carbon offset projects and has been developed by TÜV SÜD (a German based verification company).
A number of project types are elgigible for certification, however like the Kyoto mechanisms (Clean Development Mechanism and Joint Implementation) it excludes nuclear power projects and large hydropower projects over 80MW. Hydropower projects over 20MW must conform to requirements of the World Commission on Dams.
The Clean Technology Fund (CTF) is one of two Climate Investment Funds administered by Multilateral Development Banks (MDBs) and is designed to finance demonstration, deployment and transfer of low emissions technologies to low income countries. The CTF draws upon a budget of US$ 4.5 billion.
The MDBs involved are: African Development Bank; Asian Development Bank; European Bank for Reconstruction and Development; Inter-American Development Bank; World Bank Group.
The World Trade Organisation (WTO) Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement claims to be the ‘most comprehensive multilateral agreement on intellectual property’.
It covers a host of intellectual property rights and claims including copyright, trademarks, geographical indicators, industrial designs, patents, layout designs for integrated circuits, and undisclosed information (trade secrets and test data). The Agreement sets out principles that govern WTO member states and their national Intellectual Property Rights (IPR) legislation
The World Trade Organisation (WTO) Agreement on Technical Barriers to Trade (TBT) looks to limit the protectionist effect that technical regulations and standards may have on free trade. It was agreed upon at the establishment of the WTO in 1995.
The Strategic Climate Fund (SCF) is one of two Climate Investment Funds administered by Multilateral Development Banks (MDBs) and is designed to fund and pilot ‘new approaches with potential for scaled-up, transformational action aimed at a specific climate change challenge or sectoral response’.
The MDBs involved are: African Development Bank; Asian Development Bank; European Bank for Reconstruction and Development; Inter-American Development Bank; World Bank Group. In total the SCF commands a budget of US$ 1.9 billion and invests this through 3 targeted programmes:
The Global Environmental Facility unites 182 member governments in partnership with international institutions such as UN agencies, World Bank and international development banks. It aims to address global environmental issues. It invests in projects related to biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants.
The Verified Carbon Standard (VCS) is a ‘comprehensive quality assurance system used to account for greenhouse gas emission reductions and credits’. It applies to offset projects in the voluntary carbon trading sector and was established by the Verified Carbon Standard Association (VCSA).
All Voluntary Carbon Units (VCU’s) produced under the standard must represent GHG emissions that are: