Market mechanisms - from CDM towards a global carbon market

The establishment of the Clean Development Mechanism has been one of the successes of the Kyoto Protocol. It has helped to build experience, capacity and comfort with the use of market mechanisms to reduce emissions. This will be useful when implementing future market mechanisms. This study looks into the principles behind the flexible mechanisms of the Kyoto Protocol with a focus on the CDM, but also towards the future of flexible mechanisms. It concludes that flexible mechanisms will continue to play a role in a post-2012 climate change regime.

Related Content