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The international carbon market is characterised by an activity gap between existing and future market-based mechanisms. Project-based carbon market mechanisms - such as the Clean Development Mechanism (CDM) - no longer provide sufficient incentives for the initiation of greenhouse gas mitigation activities in developing countries. At the same time, procedures and modalities for new mechanisms are not yet defined. This transition period creates substantial challenges to maintain the expertise of various stakeholder groups, to test new mechanism approaches in practice and to support the final...

This discussion paper provides an overview of the development of the international carbon market mechanisms and emerging domestic carbon pricing systems, and lays out three distinct but potentially complementary options for market mechanisms in a future climate change agreement. Options for narrowing the emissions gap before 2020 using market mechanisms are also explored. Recommendations for short term action for the G7 countries are given.

The Clean Development Mechanism (CDM) has become one of the world’s most important carbon market instruments, diffusing carbon price signals worldwide, stimulating major private investments in climate change mitigation projects worldwide, and supporting the development of mitigation action in developing countries. Following the recent decline of the market conditions, the situation of project activities, in addition to domestic and international capacities related to the CDM, have noticeably deteriorated. This research conducted by NewClimate Institute and Ecofys on behalf of the German...

This report elaborated by PBL, NewClimate Institute, IIASA and Ecofys provides an overview of projected greenhouse gas (GHG) emissions of seven major emitting countries (Brazil, China, India, Indonesia, Japan, Mexico, and the United States) out to 2030, taking into account the emissions trajectories based on current and selected enhanced policies. Earlier studies have explored the extent to which major economies are on track to achieve their 2020 pledges under the Cancun Agreements. This report extends these analyses for seven selected countries in several ways. First, the effect of planned...