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Carbon Offsetting in Europe Post 2012 : Kyoto Protocol, EU ETS, and Effort Sharing / Moritz von Unger, Darragh Conway andJelmer Hoogzaad. Climate Focus ; Frankfurt am Main : KfW Bankengruppe, 2011, 43 p.http://www.climatefocus.com/document/carbon_offsetting_in_europe_post_2012_kyoto_protocol_eu_ets_and_effort_sharingThe difficulties faced by international negotiations in finalizing an  agreed framework for post-2012 international greenhouse gas (GHG)  emission regulation have left the rules relating to carbon offsetting,  in general, and Joint Implementation (JI), in particular, in limbo. In a  study commissioned by KfW on behalf of the German Federal Ministry for  the Environment, Nature Conservation and Nuclear Safety under the  ongoing CDM/JI Initiative, Climate Focus provides an analysis of the  regulatory situation post 2012 for JI and offsetting in and for the  European Union.It aims at identifying where uncertainties lie but also where  certainties exist, where further policy measures are required and where  the existing framework remains adequate. The ultimate aim is to enable  policy-makers and investors to gain detailed insight into the  prospective situation for offsetting in Europe upon approaching the end  of the first commitment period under the Kyoto Protocol and the start of  the Third Trading Period under the EU ETS, and to present policy  options that will facilitate decision-making in a climate of  uncertainty. (© Climate Focus)