Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-57736
Michaelowa, A (2011). Fragmentation of international climate policy: doom or boon for carbon markets? In: UNEP RISO Centre, United Nations. Environment Programme. Progressing towards post-2012 carbon markets. Roskilde, 13-23. ISBN 978-87-550-3944-5.
After Copenhagen and Cancun, fragmentation of carbon markets is in full swing, with the EU and Japan actively dismantling the role of the CDM as “gold standard” currency of the global carbon market. While some political cientists argue that fragmentation could be advantageous for the climate negotiations, economists see it negatively, as it drives mitigation costs upwards and leads to a hodgepodge of rules with high transaction costs. The voluntary market as a laboratory for fragmentation has shown that high-quality credits are restricted to a tiny share, prices vary by several orders of magnitude and registries as well as verification standards have proliferated. Thus fragmentation should be resisted as far as possible.
|Item Type:||Book Section, not refereed, original work|
|Communities & Collections:||06 Faculty of Arts > Institute of Political Science|
|DDC:||320 Political science|
|Date:||15 November 2011|
|Deposited On:||05 Mar 2012 12:35|
|Last Modified:||10 Sep 2012 14:13|
|Series Name:||Perspectives Series|
|Related URLs:||http://www.acp-cd4cdm.org/publications.aspx (Publisher)|
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