Russian Federation, has announced, recently, thier decision to promote Kyoto Protocol’s Joint Implementation (JI)  Mechanism by adopting the required national procedures and guidelines. Russia has its first 25 emission reduction projects for submission to UNFCC JI approval process, which are expected to reduce GHG emissions by more than 65 million tons of CO2- equivalent over the five years from 2008, approximately equalling emissions  of Sweden or Ireland in one year.Under the Kyoto Protocol 35 industrial countries and European Community are expected to reduce GHG emissions by an average of 5% compared to 1990 emission levels during first commitment period 2008-2012.The JI mechanism allows industrial countries with emission targets to get carbon credits resulting from projects which reduce emissions by sources or improve emission removals in other developing countries.The carbon credits which are tradable can be purchased by industrial countries with emission reduction targets or comply limitation commitments under Kyoto Protocol. It is good note that the CDM and JI projects are being implemented in different regions and not in few geographical regions. Source:unfccc.int The press relese is here. h*tp://unfccc.int/files/press/news_room/ press_releases_and_advisories  /application/pdf/20070601_english.pdf