- The establishment of a quantifiable long-term (50-year) trajectory for the management of global greenhouse gas (GHG) emissions.
- Global cooperation to accelerate energy technology development and deployment and enable the rapid transfer of technology between nations.
- Mitigation action built progressively from local, national, sector or regional programs, each contributing to the long-term goal. This recognizes that energy and climate policy must, in the first instance, be set at national level.
- A global carbon market, allowing international trading between nations, sectors and projects, thereby introducing flexibility into the attainment of national and sector objectives.
This supplement to Policy Directions presents a discussion on the creation of the global carbon market. Future supplements will elaborate on other aspects of the framework.