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The Kyoto mechanisms provided Russia and Ukraine with their main incentives for participating in the first commitment period of the Kyoto Protocol. This article explores what opportunities the anticipated post-2012 mechanisms offer Russia and Ukraine in light of the lessons from Joint Implementation (JI) and the Green Investment Scheme (GIS) during the first Kyoto commitment period. The key factors explaining the success of these mechanisms were identified as 1) design of the mechanism, 2) roledoi:10.1080/14693062.2014.844529 fatcat:epger4aacbc4xaiftdtcorcyru