UN Summit on Climate Change in Paris – Destined to Fail or Succeed?
... while from now, so options for earlier reviews are also on the table. On a question of market mechanisms, the current negotiation text includes some options but in overall the Paris meeting will provide no specifics. This is another difference from Kyoto Protocol where carbon markets based on the trade of emission permits among countries provided for flexibility in meeting national emission reduction commitments. Russia for instance took advantage of the Joint Implementation scheme which provided investments into energy efficiency, renewables and other low-carbon options. In a new agreement, market mechanisms prove to be difficult to define due to the bottom-up ...