By D. Stowell
Weather buying and selling covers matters concerning greenhouse gasoline emissions buying and selling markets, together with the occasions that lead as much as the adoption of the Kyoto protocol, the advance of the market-based mechanisms below the Protocol, and the rising family and foreign emissions buying and selling and carbon credit markets. The booklet presents a finished and targeted evaluate of the advanced and evolving concerns surrounding those markets. As governments start the method of implementation of household legislation to be able to meet foreign requisites, it will likely be an important for capital markets practitioners to appreciate the consequences and thoughts linked to emissions buying and selling.
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Additional resources for Climate Trading: Development of Greenhouse Gas Markets
Between COP-4 and COP-6 in 2000, deep divisions arose between and within Annex I and non-Annex I Parties. Tensions between Annex I and non-Annex I Parties increased as a result of continued pressure by Annex I Parties for discussions on expanded commitments, that is, developing country commitments, and by non-Annex I 26 CLIMATE TRADING Parties for discussions on the impacts on developing countries of the implementation of response measures (prior to COP-3, this was primarily an issue pushed by OPEC countries seeking to receive ‘compensation’ for any potential losses in oil revenues due to emissions reduction measures taken by Annex I countries).
1 THE UN FRAMEWORK CONVENTION ON CLIMATE CHANGE In 1990, the UN General Assembly established an Intergovernmental Negotiating Committee (INC) to negotiate a framework convention on climate change. The Intergovernmental Panel on Climate Change’s (IPCC) First Assessment Report was the main scientiﬁc basis for the INC’s work. Between February 1991 and May 1992, ﬁve INC sessions were held, culminating in the adoption of the Convention on 9 May 1992. Some 150 states and numerous intergovernmental and non-governmental organizations participated in these sessions.
CHAPTER 3 The Kyoto Mechanisms – A Framework for International Emissions Trading . . Policies and measures to deal with climate change should be cost-effective so as to ensure global beneﬁts at the lowest possible cost. 1 OVERVIEW Cost considerations have been one of the key concerns for Annex I Parties when considering taking on reduction and limitation targets under the Kyoto Protocol. Incorporating an international emissions trading system into the Protocol was one of the key requirements for several countries within the climate negotiations.