Joint Implementation
The revenues from Kyoto allowances via Joint Implementation projects sales can be significant – in the billions of euros in the cases of Russia. If a number of (relatively strict) criteria were filled JI projects could be implemented during the Kyoto protocol agreement, for which no international third-party checking or UN approval was needed. According to Transparency International a lack of regulation in carbon trading poses the risk of fraud. In 2009 it was not in all cases clear which government organisations had the authority to sell the surplus and how transparently and accountably such transfers of public wealth were carried out.