1. Italian policies and programmes on JI
Claudia Croce
UNFCCC JI Technical Workshop
th February 2007, Bonn
Ministry for the Environment, Land and Sea of Italy
Department for Environmental Research and Development

2. Use of the flexible mechanisms in Italy
According to the new political programme, the Italian Government is planning to utilise the flexible mechanisms (CDM and JI) up to a cap of 20% of the overall reduction target
This amounts to 19 MtCO2eq/yr in the five years of the 1st commitment period of the Kyoto Protocol ( )

3. Commitment and Actions of IMoE
€150 M actual capitalization. Italian private sector involved. 1st tranche closed on June,
€ 2.0
€ 150 M
€ 18.8 M

4. Italian Carbon Fund concept
Purchase fund, operational as for March First tranche closed on June, 30, Investment phase ongoing
Purchase of project-based emission reductions (ERs)
Purchase period initially up to 2012 (with option to extend)
Payment on delivery on the basis of a long-term contract (pre-financing possible in individual cases)
Distribution of credits “pro quota” to fund’s participants (Italian public and private entities)

5. ICF project selection
No specific limitations as for project types but exclusions of (in line with the KP):
Nuclear power projects
Large hydro power projects
Project size: generally no limitations but transaction costs!
Generally no regional limitations
No more than 50% of the total capitalisation in one country
Preference to projects in China, LAC, Mediterranean region and Central-Eastern Europe

6. IMoE major cooperation programmes
The Sino Italian cooperation programme (China)
The Central-Eastern Europe Task Force:
Serbia & Montenegro, Croatia, Bosnia & Herzegovina, Albania, Macedonia, Romania, Bulgaria and Ukraine
The Mediterranean cooperation:
- The MEDREP initiative
- Algeria, Egypt, Israel, Morocco and Tunisia
The LAC cooperation:
- Brazil, Argentina, Belize, Cuba, Mexico, Panama, Uruguay

7. IMoE JI Cooperation programme
National JI Focal Point appointed in Nov. 2006
JI Guidelines and Procedures drafted and internally approved
MoU signed with Romania in Dec Implementation phase starting next week.
MoU with Ukraine under Government ratification
MoU with Bulgaria under negotiation
Interest for Green Investment Scheme under discussion at the political level

8. Italian JI Guidelines and Procedures
Director General of the IMoE has been appointed as the Designated Focal Point (DFP)
The Italian DFP only issues Letters of Approval for Italian individuals and/or legal entities either domiciled  on  the  Italian territory   or  legally established there
The Government of Italy is not currently approving JI projects implemented in Italy

9. Italian JI Guidelines and Procedures (cont.)
Two different scenarios may occur:
Italy is not the Host Party (non HP) and the Host Party has chosen the verification procedure under Track 1
Italy is not the Host Party (non HP) and the Host Party has chosen the verification procedure under Track 2

10. Requirements
A self-certification by the Project Participant stating that:
participation in the given project activity meets the requirements imposed on such participation under the terms of the Kyoto Protocol and the JI Guidelines
participation in the given project activity meets the criteria prescribed in the Guidelines by the World Commission on Dams (in case of large hydro projects only)
(only for Host Party that has already signed the Treaty of Accession) the acquis communitaire has been taken into account in the definition of project baseline
2. Communication to the Italian Designated Focal Point of the web site where the project information has been posted

11. Additional requirements in case of Track 1 verification procedure
A copy of the Letter of Approval from the Host Country’s Designated Focal Point
A copy of the Project Design Document (PDD)

12. Additional requirements in case of Track 2 verification procedure
A copy of the Letter of Approval from the Host Country’s Designated Focal Point
A copy of the Project Design Document (PDD)
A copy of a pre-verification report by the Accredited Independent Entity as to be sent to the JISC
No fees required for the issuance of the LoA

13. Thank you! www.minambiente.it www.italiancarbonfund.org