Act locally, trade globally : emissions trading for climate policy

Description

Climate policy raises a number of challenges for the energy sector, the most significant being the transition from a high to a low-CO2 energy path in a few decades.€ Act Locally, Trade Globally seeks to provide a complete picture of the future role of emissions trading in climate policy and the energy sector.€ It offers an overview of existing trading systems, their mechanisms, and looks into the future of the instrument for limiting greenhouse gas emissions.  Read more... Executive Summary -- 1. Introduction: Emissions Trading and Climate Policy -- Allocation Modes -- Outline -- 2. The Kyoto Protocol Mechanisms -- Overview of the Three Mechanisms -- Supply and Demand Outlook -- Emissions Trading: A Market Instrument for Industrialised Countries -- Project-Based Mechanisms: Raising High Expectations -- Kyoto Mechanisms: An Early Focus on Projects -- 3. Emissions Trading: Targeting Sources -- The EU Emissions Trading Scheme -- GHG Emissions Trading Systems beyong the EU -- Linking Systems: Issues and Opportunities -- Conclusion -- 4. Beyond Industrial Activities -- Extending Coverage through Upstream Allocations -- Emissions Trading in Road Transport -- Including International Aviation and Marine Bunker Fuels -- Conclusion -- 5. Broadening and Deepening -- The Advantages of a Global Emissions Trading Regime -- Barriers to a Global Regime -- Dynamic Targets -- Non-Binding Targets -- Other Target Types -- Developing Countries' Circumstances -- From Countries to Sectors -- Options for Industrialised Countries -- Addressing Uncertainties -- Conclusions -- 6. Act Locally, Trade Globally -- References -- Glossary.