Title
The Carbon Market Challenge (Preventing Abuse Through Effective Governance)
Length
100 p.
Author
Regina Betz, Axel Michaelowa, Paula Castro, Raphaela Kotsch, Michael Mehling, Katharina Michaelowa, and Andrea Baranzini
Year
September 2022
Type
Book
Keywords
Carbon pricing, EU ETS, Pollution permits

Abstract

Carbon markets – both emissions trading systems and baseline-and-credit systems – are an increasingly common policy instrument being introduced to address climate change mitigation. However, their design is crucial to ensure that they deliver cost-effective emission reductions while maintaining environmental integrity. This Element puts together a comprehensive, principle-based overview of the risks and abuses to environmental integrity and cost-effectiveness that have emerged for carbon markets at all jurisdictional levels around the world, provides concrete examples, and offers effective policy and governance solutions to overcome such risks.

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