Article (Scientific journals)
The Clean Development Mechanism in a world carbon market
Picard, Pierre M; Brèchet, Thierry; Ménière, Yann
2016In Canadian Journal of Economics, 49 (4), p. 1569-1598
Peer reviewed
 

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Keywords :
Clean Development Mechanism; Environment; Carbon emission
Abstract :
[en] This paper discusses the role of the Clean Development Mechanism (CDM) in 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. The implications of the presence of non-additional projects are also analyzed.
Disciplines :
Microeconomics
Author, co-author :
Picard, Pierre M ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
Brèchet, Thierry
Ménière, Yann
External co-authors :
yes
Language :
English
Title :
The Clean Development Mechanism in a world carbon market
Publication date :
2016
Journal title :
Canadian Journal of Economics
ISSN :
0008-4085
Publisher :
Blackwell Publishing, Toronto, Canada
Volume :
49
Issue :
4
Pages :
1569-1598
Peer reviewed :
Peer reviewed
Available on ORBilu :
since 18 April 2017

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