Establishing a global carbon market

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In its 2007 publication Policy Directions to 2050, the WBCSD proposes an outline for a post-2012 international framework. It features four key elements:
  • 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.

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