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The clean development mechanism in a global carbon market

  • BRECHET, Thierry

    ()

    (Université catholique de Louvain, CORE & LSM, Belgium)

  • meniere, Yann

    (Ecole des Mines de Paris, CERNA)

  • PICARD, Pierre M.

    ()

    (Université catholique de Louvain, CORE, Belgium; CREA, University of Luxembourg)

This paper discusses the role of the Clean Development Mechanism (CDM) on the market for carbon quotas and countries' commitments to reduce their carbon emission levels. We show that the CDM contributes to an efficient funding of clean technology investments in least developed countries. However, the CDM is not neutral on the global level of carbon emissions as it entices countries to raise their emission caps. The CDM may also make inappropriate the inclusion of any country that takes no emission abatement commitment. It can even make inefficient a country's decision to commit to an emission target.

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File URL: http://uclouvain.be/cps/ucl/doc/core/documents/coredp2012_40web.pdf
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2012040.

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Date of creation: 11 Oct 2012
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Handle: RePEc:cor:louvco:2012040
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  1. Michaelowa, Axel & Jotzo, Frank, 2005. "Transaction costs, institutional rigidities and the size of the clean development mechanism," Energy Policy, Elsevier, vol. 33(4), pages 511-523, March.
  2. repec:cup:cbooks:9781107013940 is not listed on IDEAS
  3. Fankhauser, Samuel & Martin, Nat, 2010. "The economics of the CDM levy: Revenue potential, tax incidence and distortionary effects," Energy Policy, Elsevier, vol. 38(1), pages 357-363, January.
  4. Antoine Dechezleprêtre & Matthieu Glachant & Yann Ménière, 2009. "Technology transfer by CDM projects: A comparison of Brazil, China, India and Mexico," Post-Print hal-00437547, HAL.
  5. repec:cup:cbooks:9780521715348 is not listed on IDEAS
  6. Helm, Carsten, 2003. "International emissions trading with endogenous allowance choices," Journal of Public Economics, Elsevier, vol. 87(12), pages 2737-2747, December.
  7. BRECHET, Thierry & LUSSIS, Benoît, . "The contribution of the clean development mechanism to national climate policies," CORE Discussion Papers RP -1886, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Duranton, Gilles & Martin, Philippe & Mayer, Thierry & Mayneris, Florian, 2010. "The Economics of Clusters: Lessons from the French Experience," OUP Catalogue, Oxford University Press, number 9780199592203, March.
  9. Jean-Marc Burniaux & Jean Château & Rob Dellink & Romain Duval & Stéphanie Jamet, 2009. "The Economics of Climate Change Mitigation: How to Build the Necessary Global Action in a Cost-Effective Manner," OECD Economics Department Working Papers 701, OECD Publishing.
  10. Millock, Katrin, 2002. "Technology transfers in the Clean Development Mechanism: an incentives issue," Environment and Development Economics, Cambridge University Press, vol. 7(03), pages 449-466, July.
  11. Schneider, Malte & Holzer, Andreas & Hoffmann, Volker H., 2008. "Understanding the CDM's contribution to technology transfer," Energy Policy, Elsevier, vol. 36(8), pages 2920-2928, August.
  12. repec:cup:cbooks:9780521887427 is not listed on IDEAS
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