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Global carbon mechanisms: lessons and implications

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Abstract

We outline the theoretical and political background to the global carbon mechanisms and how they emerged in the form of the Kyoto Protocol’s Clean Development Mechanism, Joint Implementation, and Intergovernmental Emissions Trading. We present empirical data on the response to date and the variants that have arisen. Based on this, we analyse the issues and evidence on the main controversies around additionality, efficiency and effectiveness of the instruments. The final part of the paper considers some of the implications for future development.

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Authors and Affiliations

  1. Faculty of Economics, University of Cambridge, Austin Robinson Building, Sidgwick Avenue, Cambridge, CB3 9DE, UK

    Michael Grubb & Tim Laing

  2. Carbon Trust, 6th Floor, 5 New Street Square, London, EC4A 3BF, UK

    Michael Grubb, Thomas Counsell & Catherine Willan

Authors
  1. Michael Grubb
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  2. Tim Laing
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  3. Thomas Counsell
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  4. Catherine Willan
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Corresponding author

Correspondence to Tim Laing.

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Grubb, M., Laing, T., Counsell, T. et al. Global carbon mechanisms: lessons and implications. Climatic Change 104, 539–573 (2011). https://doi.org/10.1007/s10584-009-9791-z

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  • DOI: https://doi.org/10.1007/s10584-009-9791-z

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