A process for reducing emissions from deforestation in developing countries has been initiated under the UNFCCC. Efforts to agree on a legally binding instrument to halt deforestation have previously failed in other international fora. The magnitude of the social, economic, technical and...

The agreement on implementation of the Kyoto Protocol achieved at COP7 in Marrakech has important implications for investment in greenhouse gas emission reduction projects in developing countries through the Clean Development Mechanism (CDM). The required actual emission reductions for...

The first commitment period of the Kyoto Protocol is expected to result in only a small role for the Clean Development Mechanism (CDM), including afforestation and reforestation projects. Wide ranging concerns regarding sinks in the CDM have been reflected in the Marrakech Accords capping the...

Australia is establishing an economy-wide emissions trading scheme, with a detailed proposal tabled by government in December 2008 and a scheme start planned for 2011. The proposal is for unilateral linking through the Clean Development Mechanism and Joint Implementation, but no initial...

The revised Directive published in June 2009 suggests auctioning as a basic principle for allocation for the upcoming third trading phase of the EU Emissions Trading Scheme (EU ETS) that runs from 2013 to 2020. The article emphasizes the importance of a properly chosen auction design. Compared...