Putting a price on carbon is essential to drive the technological and behavioural innovation necessary to limit climate change. Market-based instruments, such as cap-and-trade emission trading schemes, are crucial to price carbon emissions and keep the costs of climate action low. A cap-and-trade scheme enables emitters to trade allowances for the right to emit up to their allowed limit or "cap".
OECD works with governments on the design and implementation of GHG market instruments such as cap-and-trade. Our analysis extends to broader environmental markets, encompassing local air pollutants as well as renewable energy credits, and includes both voluntary and compliance markets; it also considers how offset markets can broaden the range of options by which countries with capped GHG emissions can reach their targets and lower the costs of GHG mitigation.
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As part of its work on decoupling environmental pressures from economic growth, the OECD is examining the effects of public policy on technological innovation with the aim of improving
The OECD is developing a Green Growth Strategy to show the way to make a cleaner low-carbon economy compatible with growth. As governments move forward on addressing major environmental externalities, the additional revenues generated by
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OECD and CDC Climat Recherche have reviewed ten in-depth case studies of urban projects proposed and operating within the realm of Joint Implementation (JI) and the Clean Development Mechanism (CDM) of the Kyoto Protocol. They examine drivers of success and how to best tap the potential for carbon markets to offer increased levels of financial support for urban mitigation projects.
Market Readiness: Building blocks for market approaches |
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