Global carbon mechanisms: lessons and implications |
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| Authors: | Michael Grubb Tim Laing Thomas Counsell Catherine Willan |
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| Institution: | 1. Faculty of Economics, University of Cambridge, Austin Robinson Building, Sidgwick Avenue, Cambridge, CB3 9DE, UK
2. Carbon Trust, 6th Floor, 5 New Street Square, London, EC4A 3BF, UK
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| Abstract: | We outline the theoretical and political background to the global carbon mechanisms and how they emerged in the form of the Kyoto Protocol??s Clean Development Mechanism, Joint Implementation, and Intergovernmental Emissions Trading. We present empirical data on the response to date and the variants that have arisen. Based on this, we analyse the issues and evidence on the main controversies around additionality, efficiency and effectiveness of the instruments. The final part of the paper considers some of the implications for future development. |
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