“Certified Emission Reduction” Sale and Purchase Agreement (CERSPA Template) Cover Image

Model ugovor o kupovini i prodaji »certifikovanih smanjenja emisija« (CERSPA)
“Certified Emission Reduction” Sale and Purchase Agreement (CERSPA Template)

Author(s): Ivanka Spasić
Subject(s): International Law, Human Ecology, Environmental interactions
Published by: Institut za uporedno pravo
Keywords: CERSPA template agreement; »Certified Emission Reduction« (CERS); Clean Development Mechanism (CDM); Kyoto Protocol;

Summary/Abstract: »Certified emission reduction« sale and purchase (model) agreement (CERSPA Template) is structured to benefit more profoundly the possibilities introduced by the »Clear Development Mechanism« (CDM) established by Kyoto Protocol. The development of industry and technology produced air pollution and global heating; the result of technical progress is constantly increasing »greenhouse effect« which threaten very seriously to destroy Earth Atmosphere. To resolve this problem International Association made some rules to reduce emission of dangerous »greenhouse gases«. One of the most important international rule is The Kyoto Protocol. The Protocol introduced three mechanisms of implementation: International Emission Trading (IET), Joint Implementation (JI) and Clean Development Mechanism (CDM). For the countries in transition, the CDM mechanisms are the most important because these mechanisms permit these countries to participate in the »emission reduction process« and to be the »playground« where these projects take place. These countries have the benefit of »green« technology projects built on their territory and the project investors have the benefit of saving »emission reduction units« (CER-s). These «emission reduction« units (CER-s) can be purchased and sold on the »carbon market«. Because the CER-s are special merchandise same special rules must be applied. Besides the Document- Instruction made by Kyoto Protocol the CERSPA template agreement is also made to facilitate the »emission unit« trade. The article is analyzing the specificities of the CERSPA template, the model agreement which is used, by the parties, as a contractual pattern which can help them to regulate their contract.

  • Issue Year: 2012
  • Issue No: 1
  • Page Range: 196-214
  • Page Count: 19
  • Language: Serbian