Aaditya Energy Foundation, Chennai, India

`Evolving Climate Strategies among Asian Nations under CDM & JI at Hydrocarbon E &P Industry ----- Aligning Carbon Abatement Costs in Asian Emissions` Trading Scheme`.

Asian Emissions' Trading Scheme (AETS) for CO2 capturing is one of the major components of Asian Climate Strategy for achieving Asian Kyoto Targets under UNFCCC. Besides trading emission allowances, linking between AETS and two flexible project mechanisms: 'Clean Development Mechanism' (CDM) and 'Joint Implementation' (JI) has been established at Hydrocarbon E&P Business, that opens scope for bridging emissions' trading alliances with Annex I and non Annex I countries.

Paper objectively derives cost effective Asian Emissions' Trading Scheme through a Dynamically Stimulated Emissions' Trading Model to deduce effects of current emissions' regulations and trading policies incorporating fossil fuel production and consumptions in a Lead Time Framework for the year 2012, when Kyoto targets need to be met. Further, estimates of marginal abatement costs for reducing carbon emissions lead to derive policy and procedural approaches in identifying emissions' reduction opportunities and its impact on CDM implementation at Hydrocarbon E&P Industry.

Paper is emphatically focused to analyze, effects of different climate policy initiatives among Asian Nations, and its contributions to Asian Emissions' Trading Scheme. The statistical modeling used in the analysis predicts that CDM and JI projects help in reducing cost of meeting Kyoto targets. Paper empirically derives that the best strategy to reduce the cost of carbon credits and Asian Climate Strategies is to include more sectors and other greenhouse gases, and to allow for an unrestricted use of CDM and JI across carbon energy business. Paper concludes in deriving key trading assumptions under CDM & Joint Implementation to estimate carbon abatement costs in carbon energy uses. Despite, limited data available for such an exercise in Asian context, paper further concludes in identifying significant opportunities of emissions' reductions, at carbon energy business, aligning to formulate economic reforms and legal directives for CDM implementation under United Nations Framework Convention on Climate Change.

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