Contractual rights and obligations in sale and purchase of CERs: how can they be enforced?

Topic: Contractual rights and obligations in sale and purchase of CERs: how can they be enforced?

Presenter: Yu (Molly) Yao - PhD Candidate, TC Beirne School of Law

Clean Development Mechanism ("CDM") was established- and is regulated by the international environmental regime consisting of UNFCCC, Kyoto Protocol and Marrakesh Accords. It is governed by international institutional bodies consisting of Executive Board ("EB"), the Conference of the Parties to the UNFCCC ("COP"), the COP serves as the Meeting of the Parties to the Kyoto Protocol ("CMP") and UNFCCC Secretaries. Only the operation of the project complies with "CDM" modalities and procedures, can the emission reductions generated by it be acknowledged as Certified Emission Reductions ("CERs"), which can be sold and bought. There are various approaches to the sale and purchase of "CERs" seen on both primary and secondary market. This research will examine a selection of contractual documents and analyse key contractual terms on self-regulated rights and obligations with respect to legal issues concerned by contractors in "CERs" transactions. There are three aspects of this research: 1. According to the contractual terms, what are the substances of contractual rights and obligations of the contractors in sale and purchase of "CERs"; 2. What are likely to be the authority to resolve disputes arising from the performance of those contractual rights and obligations; 3. How to enforce the contractual terms and protect contractual performance through reaching a remedy as an outcome of the dispute resolution and execution of that remedy. 

All welcome, no RSVP required.

Contact: Claire Ritchie, ph: 3365 7903, email: c.ritchie@law.uq.edu.au