Market Mechanisms and Global Climate Change: An Analysis of Policy Instruments

摘要

This report, which analyzes market-based environmental policy instruments, is the211u001ethird in a series by the Pew Center on Global Climate Change. It reviews U.S. and 211u001eEuropean experience with market-based mechanisms and the ways the Kyoto Protocol 211u001eon Climate Change utilizes these mechanisms. The report finds that properly 211u001edesigned rules for the operation of these mechanisms can provide economic and 211u001eenvironmental integrity and signal to business and governments that any trades 211u001eundertaken in accordance with the system will be valid and of value. Key elements 211u001eto the success of such a system will be measurement, transparency, 211u001eaccountability, fungibility and consistency.