The term joint implementation was coined during the negotiation of the Framework Convention on Climate Change (FCCC) to refer to a strategy for meeting greenhouse gas (GHG) emissions reduction commitments undertaken by one country through actions in another. Since only developed countries and countries with economies in transition have specific obligations to reduce GHG emissions under the FCCC, it is these countries, and particularly the 24 OECD countries, that can be expected to initiate joint implementation projects.
In theory, joint implementation might reduce the costs of meeting specific GHG emissions reduction targets by enabling developed countries to take advantage of cost-effective emissions-reduction or sink-enhancement strategies in less developed countries. In practice, however, joint implementation raises serious issues of fairness, practicality, and efficiency that well might outweigh any benefits that would be achieved. This paper discusses a number of these issues in terms of the commitment made by President Clinton during his Earth Day speech.