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State and Trends of the Carbon Market 2009

Author

Listed:
  • Karan Capoor
  • Philippe Ambrosi

Abstract

Over the past year, the global economy has cooled significantly, a far cry from the boom just a year ago in various countries and across markets. At the same time, the scientific community communicated the heightened urgency of taking action on climate change. Policymakers at national, regional, and international levels have put forward proposals to respond to the climate challenge. The most concrete of these is the adopted European Union (EU) climate and energy package (20 percent below 1990 levels by 2020), which guarantees a level of carbon market continuity beyond 2012. The EU package, along with proposals from the U.S. and Australia, tries to address the key issues of ambition, flexibility, scope, and competitiveness. Taken together, the proposals tabled by the major industrialized countries do not match the aggregate level of annex one ambition called for by the Intergovernmental Panel on Climate Change, or IPCC (25-40 percent reductions below 1990). Setting targets in line with the science will send the right market signal to stimulate greater cooperation with developing countries to scale up mitigation.

Suggested Citation

  • Karan Capoor & Philippe Ambrosi, "undated". "State and Trends of the Carbon Market 2009," World Bank Other Operational Studies 13403, The World Bank.
  • Handle: RePEc:wbk:wboper:13403
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/13403/48998.pdf?sequence=1
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    Cited by:

    1. De Cian, Enrica & Tavoni, Massimo, 2012. "Do technology externalities justify restrictions on emission permit trading?," Resource and Energy Economics, Elsevier, vol. 34(4), pages 624-646.
    2. Chevallier, Julien, 2011. "Macroeconomics, finance, commodities: Interactions with carbon markets in a data-rich model," Economic Modelling, Elsevier, vol. 28(1), pages 557-567.
    3. Haupt, Madlen & Ismer, Roland, 2011. "Emissions Trading Schemes under IFRS - Towards a “true and fair view”," EconStor Research Reports 65872, ZBW - German National Library of Economics.
    4. Liu, Liwei & Chen, Chuxiang & Zhao, Yufei & Zhao, Erdong, 2015. "China׳s carbon-emissions trading: Overview, challenges and future," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 254-266.
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    7. World Bank, 2011. "Climate-Resilient Development in Vietnam," World Bank Other Operational Studies 27393, The World Bank.
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    9. Jinshan Zhu & Hui Yao & Yingkai Tang & Liyong Wang, 2015. "An econometric analysis of sub-national Clean Development Mechanism performance in China," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(7), pages 1137-1153, October.
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    11. repec:bla:worlde:v:40:y:2017:i:8:p:1624-1645 is not listed on IDEAS
    12. repec:kap:ejlwec:v:43:y:2017:i:2:d:10.1007_s10657-016-9550-3 is not listed on IDEAS
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    16. Pistorius, Till & Schaich, Harald & Winkel, Georg & Plieninger, Tobias & Bieling, Claudia & Konold, Werner & Volz, Karl-Reinhard, 2012. "Lessons for REDDplus: A comparative analysis of the German discourse on forest functions and the global ecosystem services debate," Forest Policy and Economics, Elsevier, vol. 18(C), pages 4-12.
    17. Jinshan Zhu, 2014. "Assessing China's discriminative tax on Clean Development Mechanism projects. Does China's tax have so many functions?," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 57(3), pages 447-466, March.
    18. Paola Ovando & José L. Oviedo & Pablo Campos, 2015. "Measuring total social income of a stone pine afforestation in Huelva (Spain)," Working Papers 1501, Instituto de Políticas y Bienes Públicos (IPP), CSIC.
    19. Farley, Josh & Aquino, André & Daniels, Amy & Moulaert, Azur & Lee, Dan & Krause, Abby, 2010. "Global mechanisms for sustaining and enhancing PES schemes," Ecological Economics, Elsevier, vol. 69(11), pages 2075-2084, September.
    20. Xiaodong Wang & Noureddine Berrah & Subodh Mathur & Ferdinand Vinuya, 2010. "Winds of Change : East Asia's Sustainable Energy Future," World Bank Publications, The World Bank, number 2483.
    21. Peter Warwick & Chew Ng, 2012. "The ‘Cost’ of Climate Change: How Carbon Emissions Allowances are Accounted for Amongst European Union Companies," Australian Accounting Review, CPA Australia, vol. 22(1), pages 54-67, March.
    22. Green Jessica F, 2010. "Private Standards in the Climate Regime: The Greenhouse Gas Protocol," Business and Politics, De Gruyter, vol. 12(3), pages 1-39, October.
    23. Crossland, Jarrod & Li, Bin & Roca, Eduardo, 2013. "Is the European Union Emissions Trading Scheme (EU ETS) informationally efficient? Evidence from momentum-based trading strategies," Applied Energy, Elsevier, vol. 109(C), pages 10-23.

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