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Carbon markets are unlikely to merit even a single mention in a Paris climate change agreement, but the idea of trading emissions has not gone away. Market advocates have simply found new code-words for referring to a practice that guarantees a fight in international climate negotiations. So they’ve hedged their bets – canvassing new mechanisms without naming them, dreaming up accounting rules for schemes that have yet to be agreed, or just referring to a vague system of ‘transfers’ whose meaning can be fought out once the Paris spotlight fades.
Whatever the outcome, the public profile of carbon trading will …read more
Source: Institute for Policy Studies