Carbon Markets, Institutions, Policies, and Research

The scale of investment needed to slow greenhouse gas emissions is larger than governments can manage through transfers. Therefore, climate change policies rely heavily on markets and private capital. This is especially true in the case of the Kyot...

Full description

Bibliographic Details
Main Authors:	Larson, Donald F., Ambrosi, Philippe, Dinar, Ariel, Rahman, Shaikh Mahfuzur, Entler, Rebecca
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ABATEMENT COSTS ADAPTATION FUND ADVERSE EFFECTS AFFORESTATION AGGREGATE SUPPLY AIR POLLUTION ALTERNATIVE APPROACH ANCILLARY BENEFITS ANTHROPOGENIC GREENHOUSE GASES ANTHROPOGENIC INTERFERENCE ATMOSPHERE ATMOSPHERIC CARBON ATMOSPHERIC CARBON CONCENTRATIONS ATMOSPHERIC CARBON DIOXIDE ATMOSPHERIC CONCENTRATION BIOLOGICAL DIVERSITY CARBON CARBON ACCUMULATION CARBON DIOXIDE CARBON EMISSION CARBON EMISSIONS CARBON EQUIVALENTS CARBON FINANCING CARBON INTENSITY CARBON LEAKAGE CARBON MARKET CARBON MARKETS CARBON OFFSET CARBON PRICES CARBON PROJECTS CARBON SEQUESTRATION CARBON STOCKS CARBON TAX CARBON TAXES CARBON TECHNOLOGIES CARBON TRADING CARBON UNITS CEMENT INDUSTRY CERTIFIED EMISSIONS CERTIFIED EMISSIONS REDUCTIONS CERTIFIED PROJECT ACTIVITY CERTIFIED REDUCTIONS CLEAN AIR CLEAN COAL CLEAN DEVELOPMENT CLEAN DEVELOPMENT MECHANISM CLEAN DEVELOPMENT MECHANISMS CLEAN ENERGY CLEAN ENERGY TECHNOLOGIES CLEAN TECHNOLOGY CLEAN TECHNOLOGY FUND CLIMATE CLIMATE CHANGE CLIMATE CHANGE CONVENTION CLIMATE CHANGE LITERATURE CLIMATE CHANGE POLICIES CLIMATE CHANGE POLICY CLIMATE CHANGE TREATY CLIMATE MODELS CLIMATE POLICY CLIMATE SYSTEM CO2 CO2 EMISSIONS COAL CONFERENCE OF THE PARTIES CONSUMPTION OF FOSSIL CONVENTION ON BIOLOGICAL DIVERSITY COSTS OF COMPLIANCE DEFORESTATION DESERTIFICATION DOMESTIC EMISSIONS EARTH SUMMIT ECOSYSTEMS EFFICIENT LIGHTING ELECTRICITY ELECTRICITY SECTOR EMISSION EMISSION ABATEMENT EMISSION CEILINGS EMISSION CONTROLS EMISSION GOALS EMISSION LEVELS EMISSION LIMITATION EMISSION LIMITS EMISSION PERMITS EMISSION REDUCTION EMISSION REDUCTION GOALS EMISSION REDUCTION UNITS EMISSION TARGETS EMISSION TRADING ENERGY EFFICIENCY ENERGY SYSTEMS ENVIRONMENTAL BENEFITS FORESTRY FORESTS FOSSIL FUEL FOSSIL FUELS FRAMEWORK CONVENTION ON CLIMATE CHANGE GAS PHASE GASES GASOLINE GDP GLOBAL EMISSIONS GLOBAL ENVIRONMENT GLOBAL ENVIRONMENT FACILITY GLOBAL WARMING GREENHOUSE GREENHOUSE EFFECT GREENHOUSE GAS GREENHOUSE GAS EMISSION GREENHOUSE GAS EMISSION REDUCTIONS GREENHOUSE GAS EMISSIONS GREENHOUSE GAS MITIGATION GREENHOUSE GAS SINKS GREENHOUSE GASES GROUND BIOMASS HOT AIR HYDROFLUOROCARBONS HYPOTHETICAL BASELINE INCOME INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE IPCC IRREVERSIBLE INVESTMENTS KYOTO PROTOCOL LAND USE LEVEL OF EMISSIONS MARGINAL ABATEMENT MARGINAL ABATEMENT COST METHANE MORAL HAZARD NATURAL RESOURCES NEGOTIATIONS NET EMISSIONS NITROUS OXIDE OCEANS OIL ORGANIC CARBON OZONE OZONE LAYER PERFLUOROCARBONS POLICY DECISIONS POLLUTANTS POLLUTION PROBLEMS PROGRAMS REFORESTATION REGIONAL ELECTRICITY REGIONAL ELECTRICITY MARKET RENEWABLE ENERGY RENEWABLE ENERGY TECHNOLOGIES RESTRICTIONS RISING SEA LEVELS SEA LEVELS SHADOW PRICE SOIL SOLAR POWER SULFUR SULFUR DIOXIDE SULFUR DIOXIDE PERMIT SULPHUR SUSTAINABLE DEVELOPMENT TRADABLE CARBON TRADABLE PERMIT TRADABLE PERMIT SYSTEM TRADABLE PERMITS TRANSACTION COSTS VOLUNTARY EMISSION WATER VAPOR WELFARE LOSS WELFARE LOSSES WIND WIND POWER WMO WORLD METEOROLOGICAL ORGANIZATION
Online Access:	http://documents.worldbank.org/curated/en/2008/10/9972039/carbon-markets-institutions-policies-research http://hdl.handle.net/10986/6895

Description
Summary:	The scale of investment needed to slow greenhouse gas emissions is larger than governments can manage through transfers. Therefore, climate change policies rely heavily on markets and private capital. This is especially true in the case of the Kyoto Protocol with its provisions for trade and investment in joint projects. This paper describes institutions and policies important for new carbon markets and explains their origins. Research efforts that explore conceptual aspects of current policy are surveyed along with empirical studies that make predictions about how carbon markets will work and perform. The authors summarize early investment and price outcomes from newly formed markets and point out areas where markets have preformed as predicted and areas where markets remain incomplete. Overall the scale of carbon-market investment planned exceeds earlier expectations, but the geographic dispersion of investment is uneven and important opportunities for abatement remain untapped in some sectors, indicating a need for additional research on how investment markets work. How best to promote the development and deployment of new technologies is another promising area for study identified in the paper.

Carbon Markets, Institutions, Policies, and Research

Similar Items