Policies, Programs, and Measures

A wave of market liberalization and policy changes swept through the developing world in the 1990s. Many developing countries opened their markets to foreign investment and competition, removed fuel subsidies, deregulated the electricity sector, banned commercial forestry, and imposed strict emissions controls on vehicles and industry. Policies, programs and measures (PPMs) were initiated to find new sources of investment, reduce the fiscal drain on government treasuries, make energy industries more accountable for their actions, and protect the local environments. But few of these initiatives were implemented with the express purpose of reducing greenhouse gas emissions.