Institutionality around the carbon markets and the mechanisms established by the Kyoto Protocol

David Tobón Orozco, Jorge Florez-Acosta and Piedad Patricia Restrepo

No 40, Grupo Microeconomía Aplicada from Universidad de Antioquia, Departamento de Economía

Abstract: This article presents an approach to the institutions and regulations derived from the UNFCCC and the Kyoto Protocol. It is analyzed the performance of emission reductions markets during its three years of operations, mainly the instability of prices in European markets and their relationships with CER’s, which are issued because of the projects from de Clean Development Mechanism (CDM) from developing countries. The article also establishes the achievements and limitations of CDM as well as the perspectives of these markets and its opportunities

Keywords: Kyoto Protocol; emissions reduction markets; clean development mechanism; EUA’s; CER’s (search for similar items in EconPapers)
Pages: 12 pages
Date: 2008
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