Development of Joint Implementation Projects
Development of the Joint Implementation project provides for the complete JI project cycle. The project cycle includes stages and actions relevant for the development of any project. As in other project types, it can also be divided into two main stages: development stage and implementation stage.
Project development stage includes:
- project selection (portfolio analysis and project identification);
- development of project idea and conception (identification of project implementation eligibility in accordance with the Host Country requirements);
- preliminary estimation of project implementation as JI project (calculation of the estimated GHG emission reduction as a result of the project implementation);
- development of methodologies, calculation programs and predictive models for the performance of calculation of estimated and actual GHG emission reductions as a result of the JI project implementation;
- preparation of the project design documentation (PDD) in order to calculate and study the estimated GHG emission reduction as a result of the project implementation, as well as to identify the project eligibility in accordance with the established requirements and criteria;
- determination/validation of the project as JI project by independent entity accredited by the UNFCCC, as well as preparation and submission as required the application for the project approval in designated national and international bodies.
This stage relates to the period when project starts working and generates emission reductions. This stage includes all measures required for monitoring, reporting and verification of reduction or absorption of emissions, as well as ERUs transfer (fig 1).
Project monitoring – one of the most important stages in the JI project cycle. Monitoring means measures taken for accounting emissions in accordance with the monitoring plan and verification adopted in the JI or CDM project. GHG emissions data achieved by project implementation are collected and registered through these measures. Monitoring plan must be included in the JI PDD.
Monitoring plan establishes the requirements for monitoring and verification of the GHG emission reductions achieved by the project. Monitoring plans describe who, how and how often should control emission reductions, what measurements and instruments should be applied, and how the data for emission reductions will be calculated, documented, kept and verified during the reporting period.
Verification is an independent assessment of the correct inventory performance (accounting of emissions or inventory keeping) of greenhouse gases, including the results of the project implementation. It is checking the compliance of the methodologies for calculation and reporting of the greenhouse gases, the results of the Joint Implementation projects (annually or upon completion of the project).
VEMA CARBON performs annual verifications of the emission reductions under the project, defining and submitting the controlled volumes of GHG emission reductions to the Accredited Independent Entity (AIE) for verification. After verification AIE issues a written confirmation for the project to have met the indices of the GHG emission reductions. After the confirmation issuance, the Host Country government issues the corresponding amount of the carbon units that may be then sold in the carbon market.