3. [[Compliance with] [Review of] quantified emission [limitation and] reduction [objectives)]
[commitments or obligations)]]
26. Develop a compliance system built on the existing mechanisms that address issues of noncompliance flowing from the measurement, reporting and verifying process.
27. To ensure compliance under the Convention, operationalize Article 13 of the Convention, through the adoption of decision 10/CP.4 on the multilateral consultative process, and the annex to that decision which contains the terms of reference for the process.
28. [Compliance with] [Review of] quantified emission [limitation and] reduction [objectives][commitments] [and financial commitments for adaptation and technology transfer] undertaken by [developed country Parties] [shall][should] be monitored and assessed in a robust and credible manner based on agreed procedures for measurement, reporting and verification. The monitoring and assessment of compliance [shall][should] [ Option 1: utilize the relevant procedures implemented under the Kyoto Protocol. These provisions may be enhanced as appropriate, [taking into account experiences gained from relevant international agreements).] [ Option 2: be undertaken within a [new compliance system [under the COP] [under the new agreement]] [review process]. ]
29. The monitoring and assessment of compliance [shall][should] [ Option 1: utilize procedures and mechanisms to address cases of non-compliance determined by the principle that they should be designed to facilitate compliance in the future.] [ Option 2: lead to the application of penalties for non-compliance, including [increased future reduction commitments by an amount calculated as a multiple of the shortfall in implementation [and] [as well as ] financial contributions as penalties [10 times the market price of one tonne of carbon and ] [or] fines [and] paid into [an enhanced] [the Convention] financial mechanism][monetary penalties to be paid to the Adaptation Fund][a mechanism that establishes clear and direct consequences for non-compliance] [taking into account experiences gained from relevant international agreements].]]
Alternative to paragraphs 28 and/or 29:
The compliance procedures applied to Parties to the Kyoto Protocol under section XV of the annex to decision 24/CP.7 which are relevant to quantified emission limitation or reduction commitments shall be applied equally to all Annex I Parties, whether or not they are Parties to the Kyoto Protocol.
Such compliance procedures may be enhanced.
30. Commitments or actions undertaken by Parties identified in paragraph 11 above shall by subject to compliance provisions and shall be guided by the compliance procedures developed pursuant to Article 18 of the Kyoto Protocol.
31. Parties undertaking commitments or actions under paragraph 11 above shall not use these commitments to fulfil obligations established under the Kyoto Protocol.
32. An international compliance mechanism should be established under the Convention in order to compare efforts among developed countries mitigation actions and ensure its effective compliance.
