E. Use of units
Option 1 (paragraph 55):
55. Units issued under market-based approaches shall be fully fungible and may be used by developed country Parties to contribute to compliance with part of their QELRCs.
Option 2 (paragraphs 56 to 58):
56. The accounting of units shall be subject to the following:
(a) NAMA generated units shall be used to meet QELRCs;
(b) Any emission reduction units (ERUs), certified emission reductions (CERs), assigned amount units (AAUs) or removal units (RMUs), which a Party acquires from another Party in accordance with the provisions of JI or international emissions trading, shall be added to the assigned amount for the acquiring Party;
(c) Any ERUs, CERs, AAUs or RMUs, which a Party transfers to another Party in accordance with the provisions of JI or international emissions trading, shall be subtracted from the assigned amount for the transferring Party;
(d) Any CERs, which a Party acquires from another Party in accordance with the provisions of the CDM, shall be added to the assigned amount for the acquiring Party.
57. Units generated from market-based approaches shall be available to Parties to meet their QELRCs.
58. Units issued under market-based approaches shall be fully fungible.
