Carbon market and carbon contracts for CERs transactions

Developing CDM Projects in the Western Balkans: Legal and Technical Issues Compared

Volumn , Issue , 2010, Pages 43-58

  Barreca, Alessandra ^a  

^a UNIVERSITY OF SIENA   (Italy)

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EID: 84892800510     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1007/978-90-481-3392-5_3     Document Type: Chapter

References (25)

1. See Section 3.5.
2. It cannot be excluded that even the voluntary market buyers may purchase ERUs for a sort of pre-compliance purpose, foreseeing an imminent accession to the Kyoto Protocol legal framework and QERLC.
3. Source: World Bank, State and Trends of the Carbon Market 2009.
4. For a description of primary market see further below in this paragraph.
5. This case corresponds to the case sub (1) described in the previous paragraph.
6. This second case corresponds to the case sub (2) described in the previous paragraph.
7. More details on the nature, composition and missions of these Funds are available on www. carbonfinance.org.
8. Directive 2003/87/EC of 13 October 2003, in OJ L275 of 25 October 2003, p. 32.
9. For more details see Directive 2004/101/EC of 27 October, in OJ L338 of 13 November 2004, p. 18.
10. See Directive 2009/29/EC of 23 April 2009 amending Directive 2003/87/EC, in OJ L140 of 5 June 2009, p. 63.
11. Source: World Bank, State and Trends of the Carbon Market 2009.
12. Source: World Bank, State and Trends of Carbon Market 2008, data referring to year 2007.
13. Paragraphs 17-18, UNFCCC/CP/2001/13/Add.2.
14. Each NR includes, at least, one holding account for the government, one holding account for each authorised legal entity, on retirement account for each period, three cancellation accounts: net sinks emissions, non compliance, other cancellations.
15. Each registry is to be connected to the ITL through secure communication channels established across the Internet. These connections will allow a registry to receive an immediate response from the ITL, typically within a matter seconds after sending the transaction information. Source: UNFCCC website.
16. The source of all the data and the figures reported is the World Bank State and Trends of the Carbon Market 2008 and the World Bank, State and Trends of the Carbon Market 2009.
17. For more details see: World Bank State and Trends of the Carbon Market 2008 and World Bank State and Trends of the Carbon Market 2009.
18. The main market benchmarks for price were the prices characterizing transactions with CERs produced in China.
19. Source: World Bank, State and Trends of the Carbon Market 2008.
20. Source: World Bank, State and Trends of the Carbon Market 2009.
21. This may easily be understood by considering the simplest case of a seller represented by a Non Annex I Country and a buyer represented by an Annex I Country. In this case the seller may exploit the buyer need of CERs to comply with its QELRC and, on the other hand, the buyer may exploit its financial advantage to make pressures on the seller in need of investments, technological and financial resources to reach sustainable development.
22. Please note that many aspects of the contractual subject are regulated, inter alia, by the private international law rules provided by the 1980 Rome Convention applicable to the Contractual Obligations.
23. More details on the WB and the IETA carbon contracts are available on www.carbonfinance.org and on www.ieta.org.
24. See among others the UN Millennium Development Goals available on www.un.org/ millenniumgoals.
25. Source: World Bank, State and Trends of the Carbon Market 2009.