Carbon Markets: Past, Present, and Future
44 Pages Posted: 11 Nov 2012 Last revised: 23 Jan 2022
There are 4 versions of this paper
Carbon Markets: Past, Present, and Future
Carbon Markets: Past, Present and Future
Carbon Markets: Past, Present, and Future
Carbon Markets: Past, Present, and Future
Date Written: November 2012
Abstract
Carbon markets are substantial and they are expanding. There are many lessons from experiences over the past eight years: fewer free allowances, better management of market-sensitive information, and a recognition that trading systems require adjustments that have consequences for market participants and market confidence. Moreover, the emerging international architecture features separate emissions trading systems serving distinct jurisdictions. These programs are complemented by a variety of other types of policies alongside the carbon markets. This sits in sharp contrast to the integrated global trading architecture envisioned 15 years ago by the designers of the Kyoto Protocol and raises a suite of new questions. In this new architecture, jurisdictions with emissions trading have to decide how, whether, and when to link with one another, and policymakers overseeing carbon markets must confront how to measure the comparability of efforts among markets and relative to a variety of other policy approaches.
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
A U.S. Cap-and-Trade System to Address Global Climate Change
-
A Meaningful U.S. Cap-and-Trade System to Address Climate Change
-
Compensation Rules for Climate Policy in the Electricity Sector
By Dallas Burtraw and Karen L. Palmer
-
Decentralization in the EU Emissions Trading Scheme and Lessons for Global Policy
By Joseph A. Kruger, Wallace E. Oates, ...
-
Addressing Climate Change with a Comprehensive U.S. Cap-and-Trade System
-
Addressing Climate Change with a Comprehensive U.S. Cap-and-Trade System
-
Land-Use Change and Carbon Sinks: Econometric Estimation of the Carbon Sequestration Supply Function
By Andrew Plantinga, Ruben N. Lubowski, ...
-
Linkage of Tradable Permit Systems in International Climate Policy Architecture
By Judson L. Jaffe and Robert N. Stavins