Inderscience Publishers

On the potential of flexible instruments under the Kyoto Protocol

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This paper analyses the potential market for project-based international cooperation within the framework of the Kyoto Protocol. With the help of existing cost data, it is shown that the scope for cost savings by using the project-based flexible instruments of the Protocol is considerable, and that a multi-billion dollar carbon credit market can emerge.

Keywords: clean development mechanism, credit market, flexible instruments, joint implementation, Kyoto Protocol

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