Regulations on emission rights accounting protocols

Abstract

Regulations on emission rights accounting protocols.

The implementation of Kioto’s Protocol has given rise to the so called mechanisms of flexibility, and among them, the market of rights of greenhouse gases emissions. In the European Union, the market was enforced on January 1st 2005, and it affected 12,000 installations. The special quality of this market requires agreed countable norms in accordance to their operating singularity, that may harmonize the practices applied by signatory countries. This question has fostered a strong international debate. In Spain the "Instituto de Contabilidad y Auditoría de Cuentas" (ICAC) published a norm on February 2006, regulating the countable treatment to be be followed by Spanish companies.