An Overview of the Benefits of International Cooperation Mechanisms for Reducing Greenhouse Gas Emissions

Abstract

The study has reviewed the international cooperation mechanisms within the United Nations Framework Convention on Climate Change (UNFCCC) framework and synthesized their benefits to reduce greenhouse gas emissions. This study focuses on international cooperation mechanisms between countries during the Kyoto Protocol period, including mechanisms: Joint Implementation (JI), Joint Crediting Mechanism (JCM) and Clean Development Mechanism (CDM). After the Paris Agreement, countries can conduct bilateral and multilateral cooperation mechanisms to enhance the emission reduction implementation in Article 6 through the International Transferable Mitigation Mechanism (ITMO) and the Sustainable Development Mechanism (SDM). International cooperation between countries has brought a lot of great advantages in terms of implementing emission reduction commitments and the socio-economics of those countries. Vietnam also has experience participating in the CDM and JCM and has achieved many valuable results. These experiences may encourage Vietnam to implement other international cooperation mechanisms to reduce emissions in the future.