The Role of Carbon Markets in the Paris Agreement: Mitigation and Development

Henrique Schneider
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Henrique Schneider: Swiss Federation of Small and Medium Enterprises

A chapter in Climate Change and Global Development, 2019, pp 109-132 from Springer

Abstract: Abstract In its Article 6, the Paris Agreement foresees international cooperation and tasks it with mitigating greenhouse gas emissions, guaranteeing environmental integrity and assuring sustainable development. In its paragraphs, the same article provides for three different systems of international cooperation. The so-called market mechanisms or carbon markets could play a role in two of them. Article 6 makes it apparent that international cooperation and the use of markets are valid—but not exclusive—approaches in reconciling climate change and (sustainable) economic development. The question is how to align both through the operationalization of market systems. This paper provides first an overview of “carbon markets” within the body of the Paris Agreement. Then, it discusses why and how carbon markets reconcile climate change-related action with (sustainable) economic development. Third and lastly, the paper points at some safeguards in the operationalization of the international cooperation using markets as stipulated in Article 6 of the Paris Agreement. The most important safeguard regards to accounting principles.

Keywords: Paris Agreement; Carbon markets; Market mechanisms; Kyoto Protocol (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-02662-2_6

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DOI: 10.1007/978-3-030-02662-2_6

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