Towards a successful international greenhouse gas emissions trading
The inclusion of emissions trading in the Kyoto Protocol reflects an important decision to address climate change issues through flexible market mechanisms. In this paper, we have addressed a number of policy issues that must be considered in designing and implementing an international greenhouse gas (GHG) emissions trading scheme. These include how much of a Party’s assigned amounts of GHG emissions can be traded internationally; emissions trading models; competitiveness concern in the allocation of emissions permits; banking and borrowing; accountability; emissions trading system enlargement; and bubbles. Although our focus has been exclusively on emissions trading, we have discussed its relationship with the clean development mechanism, joint implementation and bubbles wherever necessary. By providing some new insights, the paper aims to contribute to the design and operationlization of an international emissions trading scheme.
|Date of creation:||Jul 1998|
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- Cramton, Peter & Kerr, Suzi, 2002.
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- Peter Cramton & Suzi Kerr, 2002. "Tradeable Carbon Permit Auctions: How and Why to Auction Not Grandfather," Papers of Peter Cramton 02eptc, University of Maryland, Department of Economics - Peter Cramton, revised 06 May 2002.
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- Parry, Ian & Goulder, Lawrence & Williams III, Roberton, 1997. "When Can Carbon Abatement Policies Increase Welfare? The Fundamental Role of Distorted Factor Markets," Discussion Papers dp-97-18-rev, Resources For the Future.
- Fischer, Carolyn & Toman, Michael & Kerr, Suzi, 1998.
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dp-98-40, Resources For the Future.
- Fischer, Carolyn & Kerr, Suzi & Toman, Michael, 1998. "Using Emissions Trading to Regulate U.S. Greenhouse Gas Emissions: An Overview of Policy Design and Implementation Issues," National Tax Journal, National Tax Association, vol. 51(n. 3), pages 453-64, September.
- Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
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