NUTRIENT QUOTA AND CREDITS TRADING SYSTEM AN OUTLINE

REASONS • Need for a tool to accelerate implementation of emission reductions • Carrots

APPROACH • Agreement at political level • Detailed legal and institutional aspects • Proposal

DISCUSSION POINTS 1. QUOTAS – Definition of quotas and eligible sectors (public infrastructure, agriculture,

DISCUSSION POINTS 2. ELIGIBLE INVESTMENTS - BAT – Definition of BAT within sectors –

DISCUSSION POINTS 3. INSTITUTIONAL AND GOVERNANCE STRUCTURE – Super national monitoring body - HELCOM?

DISCUSSION POINTS 4. SPECIFIC FINANCING ISSUES? 5. TRIAL PERIOD – – 2010 - ?

DISCUSSION POINTS 7. PLAN FOR EXECUTION OF THE SCHEME • T-O-R for investigations -

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NUTRIENT QUOTA AND CREDITS TRADING SYSTEM AN OUTLINE PROPOSAL FOR COST EFFICIENT REDUCTION OF EUTROFICATION AS PART OF THE HELCOM BSAP by Solveig Nordström and Karl Johan Lehtinen, NEFCO 05 -03 -2007 HELCOM BSAP

REASONS • Need for a tool to accelerate implementation of emission reductions • Carrots are needed rather than legislative sticks for cost efficient reductions beyond the baseline - also for non point sources • A possibility for attracting open sector financing for win-win solutions still applying the polluter pays principle 05 -03 -2007 HELCOM BSAP

APPROACH • Agreement at political level • Detailed legal and institutional aspects • Proposal for detailed scheme • Expert group discussion and recommendations • Adoption by relevant political instances 05 -03 -2007 HELCOM BSAP

DISCUSSION POINTS 1. QUOTAS – Definition of quotas and eligible sectors (public infrastructure, agriculture, forestry, industry, energy, land maritime transport, rural dwellings) – Distribution of quotas between countries and sectors – How to treat legal requirements (EU Directives, Russian related specific issues) – Identification of national transition periods 05 -03 -2007 HELCOM BSAP

DISCUSSION POINTS 2. ELIGIBLE INVESTMENTS - BAT – Definition of BAT within sectors – Transaction costs versus size and type of investment – Clustering/grouping of small non point sources 05 -03 -2007 HELCOM BSAP

DISCUSSION POINTS 3. INSTITUTIONAL AND GOVERNANCE STRUCTURE – Super national monitoring body - HELCOM? – National body responsible for coordination - MOEs – Clearing house(s) - NEFCO etc. – Documentation / monitoring schemes 05 -03 -2007 HELCOM BSAP

DISCUSSION POINTS 4. SPECIFIC FINANCING ISSUES? 5. TRIAL PERIOD – – 2010 - ? Testing by means of project examples 6. PROMOTION OF THE SCHEME – – 05 -03 -2007 SWOT Analysis (strengths, weaknesses, opportunitites, threats) Funds for Technical Assistance HELCOM BSAP

DISCUSSION POINTS 7. PLAN FOR EXECUTION OF THE SCHEME • T-O-R for investigations - 2 steps approach • Time schedules • Responsibilities 05 -03 -2007 HELCOM BSAP