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Institutional Mechanisms to Address the AAU Reserves in a Post-2012 Agreement

Alexander Averchenkov, Alina Averchenkova


o future trading periods is one of the key pillars of any emissions trading system, as it secures additional investment into emission reductions and provides incentives to overachieve emission reduction commitments. Article 3.13 of the Kyoto Protocol contains a provision on the right of a country to transfer unused Assigned Amount Units (AAUs) to the next commitment period; however, the detailed mechanism for such transfers has not yet been elaborated. The lack of such a pre-agreed mechanism and uncertainties about the legal form of a post


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