ERPA指导文件 V1 英文Word文档下载推荐.docx
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ERPA指导文件 V1 英文Word文档下载推荐.docx
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memberoftheGroupoftheInter-AmericanDevelopmentBank.Fundingforthis
Initiativewaskindlyprovidedbythe
GovernmentoftheRepublicof
Korea,throughtheKorea-IICSMEDevelopmentTrustFund,andbythe
SwissStateSecretariatforEconomicAffairs(SECO)throughtheIDBTechnicalCooperationTrustFundforConsultingServicesandTrainingActivities.TheGermanMinistryofEconomicofCooperationandDevelopment(BMZ)supportstheCERSPAInitiativeandwillengageinsupportingregionalworkshopstodisseminateitsobjectives.Acompletelistofsponsorsandparticipantsisincludedoverleaf.
Disclaimer:
TheCERSPAtemplateagreementandtheGuidanceDocumentreflectsthepersonalviewsofthecontributingauthorsonly,anddonotnecessarilyreflecttheviewsoropinionsofanyorganizationtheymaybeassociatedwith.Theydonotconstituteorsubstituteforlegaladviceandnoneofthecontributingauthorscanbeheldliableforanymistakesorinaccuraciestheymaycontain.AnypersonusingtheCERSPAtemplateagreementorGuidanceDocumentdoessoattheirownrisk.ExpertlegaladviceshouldbesoughtpriortousinganypartoftheCERSPAorGuidanceDocument.
*Sendyourcommentsto:
ThiagoChagas:
t.chagas@
CharlotteStreck:
c.streck@
CathyLee:
cathy@go-
MainSponsor:
Inter-AmericanInvestmentCorporation
KOREA-IIC
SMEDevelopment
TrustFund
Theinitiativeiscoordinatedby:
ClimateFocus(TheNetherlands)
LeeInternational(USA)
Additionalsupporthasbeenprovidedby:
GermanMinistryofEconomicofCooperationandDevelopment(BMZ)
Corporació
nAndinadeFomento
MallesonsStephenJacques
SiqueiraCastroAdvogados(Brazil)
MGMInternational(USA)
JunHeLawOffices(China)
SpecialthankstoChristianaFigueresandNell-GarwoodGarvey.
ListofparticipantsinVersion1.0oftheCERSPAInitiative
MultilateralInstitutions
Inter-AmericanInvestmentCorporation
SarahFandell
GeneralCounsel
AlejandroPrada
ProjectAttorney
AngelaMiller
EnvironmentalEngineer
Eog-WeonLee
TrustFundOfficer
FernandoMorales
EnvironmentalEngineer
WorldBank
ChrisCarr
SeniorCounsel
FlaviaRosembuj
JacoboKiriaty
LegalCounsel
OctavioRosselli
SouthAmerica
FlaviaFrangetto
LocalPartner
Manzano&
Asociados(Ecuador)
Iné
sManzano-Diaz
Director
CantorCO2e(Chile)
SergioVives
VicePresidente,Amé
ricaLatina
KatherinaBach(Colombia)
KatherinaBach
Privateconsultant
NorthAmerica
CathyLee
Director
MarcoMonroy
President
ClaudioJ.Lutzky
Counsel
ConservationInternational(USA)
TeresaM.Faria
AssociateGeneralCounsel
Europe
ClimateFocus(Netherlands)
RobertO’Sullivan
CharlotteStreck
Director/SeniorCounsel
MercedesFernandez
KommunalkreditPublicConsultingGmbH(Austria)
BirgitHaberl
AustrianJI/CDMProgramme
KfWCarbonFund(Germany)
DavidRusnok
SeniorProjectManager
Africa
Mallinicks(SouthAfrica)
AchmatToefy
KateReynolds
SouthSouthNorth(SouthAfrica)
StefanRaubenheimer
DevelopmentBankofSouthernAfrica(SouthAfrica)
KumeshNaidoo
ProgrammeManager
Asia
CentreforInternationalSustainableDevelopmentLaw/MallesonsStephenJaques(HongKong)
ChristopherTung
Partner
LeongLiew&
Chen(Malaysia)
LeongKwokYan
JieChen
Kim&
ChangLawOffices(SouthKorea)
YoonJeongLEE
SeniorAssociate
CCLaw/Baker&
McKenzie(Australia)
PaulCurnow
1.
BackgroundtotheCERSPA
Asthecarbonmarketcontinuestodevelop,thereisaneedtoassistprojectdeveloperstodraftandnegotiatecontractsunderwhichtheysellthecarboncreditstheyproduce.ManyCleanDevelopmentMechanism(“CDM”)projects,inparticularsmallerCDMprojects,arebeingdevelopedbyentitieswhichdonothavesubstantialresourcesavailabletoobtainadvicefromexpertlawfirms.Inmostcases,projectdevelopersandsellersofCertifiedEmissionReductions(“CERs”)selectcarbonbuyerssolelybasedontheunitpriceoffered.Afewweeksafterhavingcommunicatedtheirchoicetothebuyer,theyarelikelytofindanEmissionReductionPurchaseAgreement(“ERPA”)intheiremailinboxes.Theagreementislikelytobelong,complexandinalanguagethatthesellerisnotfluentin.FewsellershavelegaladvisorswithpreviousexposuretoCDMprojects;
manyrelyontheirgeneralistlawyersortrytomanagethenegotiationsprocesswithoutlegalassistance.Inaddition,sellersarerarelyrepresentedinforumsliketheInternationalEmissionTradingAssociationanddonothavetheresourcesorcapacitytofollowtheinternationaldiscussionsrelatedtotheKyotoProtocolindetail.
TheCDMprovidesprojectdevelopersindevelopingcountrieswithanopportunitytoaccessahardcurrencycashflowandseekadditionalupfrontfinancingresources.However,contractsunderwhichprojectdevelopersselltheirCERsthatincludedeliveryguarantees,penaltiesandstrictenforcementclauses,canturnanERPAfromanassettoaliability.SuchcontractscanunderminetheusefulnessofanERPAtosecuredebtfinancingandputanentireprojectandthecompanydevelopingtheprojectatrisk.Manycarboncontractsarealsomissingelementscommontootherlongtermpurchaseagreements,suchaspriceadjustmentclausesandlimitationsonliabilities.
TakingintoaccounttheeconomicopportunityandtheenvironmentalbenefitsofthenumeroussmallandmediumsizeCDMprojectsthatarecurrentlyunderdevelopmentaswellastheriskexposureofsellersundercarboncontracts,itisimportantthatsellersofCERsgainaccesstolegalCDMintelligence.
2.AbouttheCERSPAInitiative
Morethantwentylawyers,theoverwhelmingmajorityofwhomarefromdevelopingcountries,havecometogetherinaninitiativetodevelopanewCertifiedEmissionReductionSaleandPurchaseAgreement(“CERSPA”)template.TheobjectiveofthedevelopmentandpublicationoftheCERSPAistoassistsellerstoparticipateintheinternationalcarbonmarketwithagreaterunderstandingofthedifferenttermsandconditionsunderwhichtheycanselltheirCERs.Theagreementandsupportingdocumentationareexpectedtocontinuetoevolveovertimeasmorelawyers,projectdevelopersandotherstakeholdershavetheopportunitytouseitandprovidetheirinputandexpertise.
TheinitiativeappreciateseffortstostandardizeERPAsandothercarbonrelateddocuments.However,ourexperienceshowsthatCDMprojectscomeinallshapes,sizes,andvarieties.Regionalcontext,projecttype,projectsizeandfinancialstatusofthebuyer,projectandprojectownerdeterminetheconditionsofandtheformatofforwardCERtransactions.
Theobjectiveoftheinitiativeis,therefore,todevelopasimple,understandable,andbalancedCDMprojectagreement.ThisnewCERSalesandPurchaseAgreementtemplateanditssupportingdocumentation,willallowthepartiestodevelopanagreementthattakesintoaccountthespecificsituationoftheproject.TheCERSPAmaytherebyserveasastartingpointforthenegotiations.PartiesconsultingthemodelCERSPAandtheexplanationsprovidedinthisGuidanceDocumentwillbeabletoidentifythekeylegalissuesgoverningaCERtransaction.ThesedocumentswillassistthemtoprepareforCERsalesnegotiationsandputtheminabetterpositiontoproposelegallanguagethatcanbeusedasthestartingpointorasacounterproposalinnegotiations.
Theinitiativedoesnotaimtoprescribeasinglemodelagreement.TheinitiatorsoftheCERSPAdonotanticipatethattheprimaryCERmarketwilladoptastandardizedERPAsoon,asagreementsgoverningthetransferofCERsontheprimarymarketcontinuetovarygreatlydependingontheneedsoftheprojectandthebuyer.Instead,theCERSPAandGuidanceDocumentaimatidentifyingandexplainingkeyissuesforsellersandfi
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