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Demand in a Fragmented Global Carbon Market: Outlook and Policy Options

image of Demand in a Fragmented Global Carbon Market: Outlook and Policy Options

The global carbon market currently faces a deep demand crisis. The consequent price fall reduces the incentive to make low-carbon investments and thus increases the risk of locking in carbon-intensive infrastructure. The global carbon market relies on ambitious climate policy and consists of a mosaic of different schemes. Despite the current lack of ambitious global climate policy, various market-based approaches are emerging around the world, indicating increasing scope and fragmentation of the carbon markets. This report, conducted by GreenStream together with Climate Focus, analyses the status and outlook of global carbon markets and identifies measures and circumstances how new demand for carbon credits could be created to strengthen global efforts to limit the global average temperature rise to 2°C, taking into account the trend towards fragmentation of carbon markets.

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Background information on regional and national emissions trading schemes

The EU ETS is a supra-national mandatory emission trading scheme covering the 27 EU Member States plus Norway, Iceland and Liechtenstein. Operating since 2005, the scheme was revised in 2009 and in 2013 will enter its third phase, which will be largely governed by the revised rules.

English

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