ABSTRACT

Climate change is an environmental problem of unprecedented complexity, not just in terms of its physical, social, economic and political impacts, but particularly in terms of the range of policy instruments being designed by countries to reduce greenhouse gas emissions. Climate Change and Carbon Markets aims to provide an accessible and practical guide to cutting edge market-based mechanisms which will reduce greenhouse gas emissions. This book is a guide for national and international policy-makers and industry professionals, who need to understand the carbon markets established pursuant to the Kyoto Protocol, one of the most complex agreements ever negotiated. The book sets out how carbon markets will function by explaining the rules, institutions and procedures of the Kyoto mechanisms, including: emissions trading, joint implementation (JI) and the Clean Development Mechanism (CDM). It also provides an in-depth explanation of the EU Emissions Allowance Trading Scheme, emerging mechanisms in the US and developing countries, and how these will link up. For policy-makers, researchers and scholars; industry practitioners, companies, market service providers, technical and legal consultants, NGOs and all stakeholder organizations engaged in the Kyoto markets, this is the authoritative and comprehensive practical guide to this rapidly evolving area. Contains the full text of the key European Union documents setting up the EU Emissions Allowance Trading Scheme and the Linking Directive.

part I|74 pages

The international rules on the Kyoto mechanisms

part II|75 pages

The EU Greenhouse Gas Emission Allowance Trading Scheme

part III|170 pages

Development and implementation of the Kyoto mechanisms worldwide

chapter 1|13 pages

Emissions trading under the Kyoto Protocol

How far from the ideal?

chapter 2|17 pages

Trading through the flexibility mechanisms

Quantifying the size of the Kyoto markets

chapter 3|17 pages

Implementation challenges

Insights from the European Union Emission Allowance Trading Scheme

chapter 6|26 pages

The Clean Development Mechanism

A tool for promoting long-term climate protection and sustainable development?

chapter 7|16 pages

Determination of baselines and additionality for the CDM

A crucial element of credibility of the climate regime

chapter 8|16 pages

Creating the foundations for host country participation in the CDM

Experiences and challenges in CDM capacity building

part IV|29 pages

Conclusion