With greenhouse gas (GHG) emissions decreasing by more than 18% in the 1990s, Germany appears to be among the few industrialised countries which are on track to meet the targets they committed themselves to under the Kyoto Protocol. This achievement may appear less remarkable if one takes into...

Joint Implementation (JI) and the Clean Development Mechanism (CDM) have been established under the Kyoto Protocol as project-based instruments to mitigate greenhouse gases of the industrialized countries to the levels imposed by their Kyoto commitments. An unresolved issue associated with the...