International Carbon Market Mechanisms in a Post-2012 Climate Change Agreement

By Deborah Murphy, Peter Wooders, John Drexhage on July 7, 2009
This background paper provides an overview of the role and profile of international carbon market mechanisms in a new international post-2012 climate change regime. The paper first reviews the three market-based instruments under the Kyoto Protocol and then examines a range of possible market mechanisms under consideration in the international climate change negotiations, including allocation-based market mechanisms, REDD mechanisms and an expanded CDM. The concluding section discusses critical issues that will need to be considered in choosing and furthering developing international market mechanisms for a new regime.

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IISD, 2009