The Clean Development Mechanism in a Global Carbon Market

Reference : The Clean Development Mechanism in a Global Carbon Market


	Document type :	E-prints/Working papers : Already available on another site
	Discipline(s) :	Business & economic sciences : Economic systems & public economics
	To cite this reference:	http://hdl.handle.net/10993/12873

Title :	The Clean Development Mechanism in a Global Carbon Market
Language :	English
Author, co-author :	Bréchet, Thierry [> >]
	Ménière, Yann [> >]
	Picard, Pierre M. [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA) >]
Publication date :	2012
Publisher :	Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
Collection and collection volume :	CORE Discussion Papers
Peer reviewed :	Yes
Keywords :	[en] clean development mechanism ; climate policy ; strategic interactions
Abstract :	[en] This paper discusses the role of the Clean Development Mechanism (CDM) on the market for carbon quotas and countries' commitments to reduce their carbon emission levels. We show that the CDM contributes to an efficient funding of clean technology investments in least developed countries. However, the CDM is not neutral on the global level of carbon emissions as it entices countries to raise their emission caps. The CDM may also make inappropriate the inclusion of any country that takes no emission abatement commitment. It can even make inefficient a country's decision to commit to an emission target.
Target :	Researchers ; Students
Permalink :	http://hdl.handle.net/10993/12873
source URL :	http://uclouvain.be/cps/ucl/doc/core/documents/coredp2012_40web.pdf

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