The term Joint Implementation refers to a flexible mechanism in the Kyoto Protocol according to which a country is awarded a credit for emissions reductions when it implements energy efficiency measures in a comparable host country. In other words, Joint Implementation makes it possible for an investor country to become active where corresponding effects can be achieved at lower cost. As a consequence, the host country profits from the sale of the emission quotas it no longer needs as well as from the technology transfer from the investor country. This is in line with the Kyoto philosophy, where the key aim is to reduce emissions globally.