The market mechanisms of the Paris Agreement and the Kyoto Protocol: a legal comparison

Géraud de Lassus St-Geniès

Chapter 12 in Research Handbook on the Law of the Paris Agreement, 2024, pp 240-261 from Edward Elgar Publishing

Abstract: Relying on market-based instruments to facilitate the achievement of mitigation targets has always been a distinctive feature of the UN climate regime. The 1997 Kyoto Protocol contained three mechanisms of this kind to assist Annex I parties to meet their quantified emission limitation and reduction objectives. In the 2015 Paris Agreement, two new market instruments were created under Article 6. This chapter offers a legal comparison of the regulatory frameworks of the market mechanisms established by these two climate treaties with the aim of answering the following question: Is the law of the Paris Agreement on market mechanisms an advance on the Kyoto Protocol?

Keywords: Environment; Law - Academic; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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