With the European Commission signaling the release of a legislative package on the Effort Sharing Decision after 2020 in the coming weeks, attention turns to the mechanisms available to meet more ambitious goals in light of the Paris agreement. One potential new instrument could become an important building block for meeting emission-reduction targets in a cost-effective way: the “European Project Mechanism”.
Against this background, adelphi and FutureCamp have analysed and expanded on possible policy options to generate ideas and inform the current debate over the instrument’s design. adelphi’s contribution culminated in several recent reports. One report discusses the merits of an EPM, another draws on its potential design elements, whereas the third summarizes key takeaways from Green Investment Schemes.
The work by adelphi and FutureCamp has been financed through a grant by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB). The research program of the project has included a stocktaking of experiences from instruments such as the Joint Implementation approach under the Kyoto Protocol and Green Investment Schemes. The results present a discussion of core criteria and design options for an EPM, inspired by the preparation of country profiles drawn from hands-on experience, literature review, and expert input from exchange formats, including interviews, roundtables, and workshops.