State and Trends of the Carbon Market 2007 Capoor, Karan Ambrosi, Philippe 2013-05-14T17:22:21Z 2013-05-14T17:22:21Z 2007-05
dc.description.abstract This report points out that there is a tendency to believe that the carbon market is somehow a magic bullet that will alone save the world from global warming. While the authors recognize the enormous strength and potential of the market to achieve results, it would be wise not to assume the market will provide a painless, magical way to mitigate climate change. First, the market does not set the level of a cap, policy-makers do. The market can only be a tool to help achieve that target. It cannot be a surrogate for a target and policy makes should not expect to be let off the hook from their jobs - making sensible policy. Second, policy makers need to set targets and support mechanisms that meet two massive challenges. They have the responsibility of taking into account the risks of climate change, especially on the poorest, as well as the opportunity of expanding clean development choices to meet the basic needs and aspirations of billions worldwide, many without access to electricity or clean water. Third, there is no free lunch. The exuberance of creating value - and enormous wealth - in a new market should not mask the fact that there are costs for mitigation. Fourth, the integrity of a market rests on the clarity and simplicity of its rules, the transparency of information and on institutions that guard against fraud and manipulation. Fifth, it is not fair to expect "cap-and-trade" or emissions trading to work in all sectors globally; clearly, housing and transport are sectors that do not lend themselves easily to an elegant emissions cap-and-trade approach. There may be other policies - including other market-based approaches or removal of subsidies - that may be more suitable in some contexts. Finally, a solution to urgent problem of the climate change problem will require sustained effort by all of us. Markets can, to a certain extent, accommodate the appetite that individuals and companies in Europe, Japan, North America, Australia and beyond have for carbon emission reductions that go well beyond what their law makers require of them. This high-potential voluntary segment, however, lacks a generally acceptable standard, which remains a significant reputation risk not only to its own prospects, but also to the rest of the market, including the segments of regulated emissions trading and project offsets. en
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.subject ABATEMENT
dc.subject allowance markets
dc.subject approach
dc.subject average price
dc.subject Average prices
dc.subject balance
dc.subject capital markets
dc.subject Carbon
dc.subject CARBON ASSET
dc.subject carbon assets
dc.subject carbon capture
dc.subject carbon emission
dc.subject carbon emission reductions
dc.subject carbon emissions
dc.subject Carbon Finance
dc.subject carbon fuels
dc.subject Carbon Funds
dc.subject carbon intensity
dc.subject Carbon Market
dc.subject carbon markets
dc.subject Carbon Offsets
dc.subject carbon price
dc.subject carbon project
dc.subject Carbon transactions
dc.subject carbon value
dc.subject certain extent
dc.subject Certified Emission Reductions
dc.subject Clean Development
dc.subject Clean Development Mechanism
dc.subject Clean Energy
dc.subject clean technologies
dc.subject clean technology
dc.subject climate change
dc.subject climate change mitigation
dc.subject climate policy
dc.subject debt
dc.subject Economics
dc.subject Ecosystem
dc.subject electricity
dc.subject emerging market
dc.subject emerging markets
dc.subject Emission
dc.subject emission reduction
dc.subject Emission Reductions
dc.subject emission target
dc.subject Emissions
dc.subject emissions abatement
dc.subject emissions allowances
dc.subject emissions data
dc.subject emissions reductions
dc.subject emissions scenarios
dc.subject energy efficiency
dc.subject energy markets
dc.subject energy security
dc.subject Environmental
dc.subject environmental goals
dc.subject environmental performance
dc.subject fair
dc.subject forestry
dc.subject Framework Convention on Climate Change
dc.subject fuel
dc.subject fuel prices
dc.subject gas fields
dc.subject gas industries
dc.subject GREENHOUSE
dc.subject greenhouse gas emission
dc.subject heat
dc.subject imports
dc.subject Industrial Gases
dc.subject International Emissions
dc.subject Joint Implementation
dc.subject legislation
dc.subject marginal abatement
dc.subject market equilibrium
dc.subject market price
dc.subject Market Share
dc.subject market value
dc.subject Market Volatility
dc.subject marketplace
dc.subject member states
dc.subject metals
dc.subject Methane
dc.subject mitigation potential
dc.subject nitrous oxide
dc.subject oil
dc.subject power generation
dc.subject power sector
dc.subject price floor
dc.subject price risk
dc.subject price stability
dc.subject purchase agreements
dc.subject purchasing
dc.subject renewable energy
dc.subject renewable power
dc.subject retail
dc.subject Retail price
dc.subject risk management
dc.subject sale
dc.subject sales
dc.subject secondary markets
dc.subject spread
dc.subject surplus
dc.subject Sustainable Development
dc.subject transaction costs
dc.subject utilities
dc.subject vehicles
dc.subject voluntary commitments
dc.subject waste
dc.subject waste management
dc.title State and Trends of the Carbon Market 2007 en
dspace.entity.type Publication
okr.crosscuttingsolutionarea Climate Change 2007-06-06
okr.doctype Publications & Research :: Working Paper
okr.doctype Publications & Research
okr.globalpractice Macroeconomics and Fiscal Management
okr.globalpractice Environment and Natural Resources
okr.globalpractice Energy and Extractives
okr.globalpractice Finance and Markets
okr.globalpractice Energy and Extractives 39923
okr.language.supported en
okr.topic Energy :: Energy Production and Transportation
okr.topic Environment :: Carbon Policy and Trading
okr.topic Environment :: Environment and Energy Efficiency
okr.topic Environment :: Environmental Economics & Policies
okr.topic Macroeconomics and Economic Growth :: Markets and Market Access
okr.unit Carbon Finance (CPFCF)
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