|Policy Type:||Policy Support, Economic Instruments>Market-based instruments|
|Agency:||Council of the Baltic Sea States|
|Climate Change Description:|
In order to provide as accurate and useful information as possible, Finland concentrates its reporting efforts on the most essential and concrete policies and measures. Although this PAM serves / has served an important purpose, it is not considered one of them. Therefore the status of this PAM has been marked as “unknown”, and the description has not been updated. However, this PAM may still be in force and bring significant emissions reduction.
The Regional Testing Ground Agreement for Flexible Mechanisms of the Kyoto Protocol aims at stimulating climate investment projects in the Baltic Sea Region in the energy sector. By the end of year 2004, ten countries of the Baltic Sea Region - Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, Norway, Poland and Sweden had signed it. The Testing Ground Agreement is open to other parties that have adhered to the Kyoto Protocol. Through the implementation of the agreement participants will gain experience, develop methods and procedures, collaborate in addressing administrative and financial barriers, ensure issuance and transfer of greenhouse gas credits, and implement projects early, offering credit. The objectives are to achieve cost-effective reduction in greenhouse gas emissions by international co-operation, and thus reduce the overall cost of achieving the commitments under the Kyoto Protocol. The countries will ensure issuance and transfer of greenhouse gas credits related to or accruing from Joint Implementation projects, facilitate generation, minimise transaction costs, especially regarding small and medium scale JI projects.
|This record supersedes:||Regional Testing Ground Agreement for Flexible Mechanisms|
Last modified: Thu, 11 Jun 2015 10:37:39 CEST