To address the climate change issue, developed nations have considered introducing carbon pricing mechanisms in the form of a carbon tax or an emissions trading scheme (ETS). Despite the small number of programs actually in operation, these mechanisms remain under active discussion in a number...

The reduction of emissions from developing countries is essential in tackling climate change. The Clean Development Mechanism has been effective but criticized by various parties. In response, the Japanese government has proposed the Joint Crediting Mechanism (JCM).Using the 2010 Japanese...