Partnership for Market Readiness2015-04-292015-04-292011-12https://hdl.handle.net/10986/21830This document provides a summary assessment of (presented) scaled-up crediting instruments as well as existing project-based crediting schemes against a number of important general characteristics of such instruments. Its purpose is to provide insights that may inform the design and use of possible scaled-up crediting instruments. This summary assessment begins with an examination of proposals for scaled-up crediting mechanisms. It considers existing crediting instruments, that is, (i) Kyoto project mechanisms (clean development mechanism (CDM) and joint implementation (JI)); and (ii) voluntary emission reductions (VER) schemes (in the non-compliance and voluntary markets). The characteristics (or issues) covered are: (i) national and international circumstances for market-based mechanisms and how these interact; (ii) coverage and boundary setting; (iii) participation and incentives for participation; (iv) caps, baselines, and allocations (or issuance); (v) market integrity and credibility; (vi) monitoring, reporting, and verification (MRV); (vii) program authority and administration; and (viii) potential scaling up modalities.en-USCC BY 3.0 IGOABATEMENTABSOLUTE EMISSIONSACCOUNTINGAFFORESTATIONAIRALLOWANCESATMOSPHEREATMOSPHERIC GREENHOUSE GASAUCTIONBASELINE EMISSIONSBASELINE METHODOLOGIESBIDBIDSBROKERSCALCULATIONCAPACITY BUILDINGCAPSCARBONCARBON CREDITSCARBON EMISSIONSCARBON FINANCECARBON FOOTPRINTCARBON FUNDSCARBON MARKETCARBON PRICECARBON TRADINGCATERINGCERTIFIED EMISSION REDUCTIONSCLEAN DEVELOPMENTCLEAN DEVELOPMENT MECHANISMCLIMATECLIMATE ACTIONCLIMATE CHANGECLIMATE CHANGE AGREEMENTCLIMATE CHANGE MITIGATIONCLIMATE EXCHANGECOCO2COMMODITY MARKETSCONSUMER GOODSCREDIBILITYCREDIT SYSTEMCURRENCYDEVELOPING COUNTRIESDEVELOPING COUNTRYDOMESTIC EMISSIONSDOMESTIC MARKETDOMESTIC OFFSETSDOMESTIC SOURCESDUE DILIGENCEECONOMIC GROWTHECOSYSTEMELECTRICITYELECTRICITY GENERATIONELECTRICITY SECTOREMISSIONEMISSION FACTORSEMISSION REDUCTIONEMISSION REDUCTION COMMITMENTSEMISSION REDUCTION OUTCOMESEMISSION REDUCTION UNITSEMISSION REDUCTIONSEMISSIONSEMISSIONS COMMITMENTSEMISSIONS CONTROLEMISSIONS INTENSITYEMISSIONS OBLIGATIONSEMISSIONS REDUCTIONEMISSIONS TARGETSENVIRONMENTAL INTEGRITYFINANCIAL SUPPORTFORESTFOREST ECOSYSTEMFOREST PROJECTSFOREST SECTORFORESTRYFOSSIL FUELSGHGGOLDGREENHOUSEGREENHOUSE GAS EMISSIONSGREENHOUSE GAS LEVELSGREENHOUSE GASESHOLDINGHOST COUNTRIESHOST COUNTRYHOST GOVERNMENTHOT AIRINSTRUMENTINSURANCEINTERNATIONAL CARBON MARKETINTERNATIONAL CARBON MARKETSINTERNATIONAL EMISSIONSINTERNATIONAL MARKETINTERNATIONAL MARKETSINTERNATIONAL STANDARDSINVENTORIESINVENTORYISSUANCEISSUANCESLACK OF CREDIBILITYLAND USELEGAL FRAMEWORKLOCAL GOVERNMENTLOCAL GOVERNMENTSMARKET DEMANDMARKET INFORMATIONMARKET MECHANISMMARKET MECHANISMSMARKET PARTICIPANTSMARKET PLAYERSMARKET REGULATORSMARKET SUPPLYMARKETPLACEMITIGATION ACTIONSNATIONAL GRIDOFFSET MITIGATIONPOWER GENERATIONPOWER PLANTSPRICE DISCOVERYPRICE SCHEDULEPRIVATE BANKSPRIVATE FINANCEPURCHASINGREGISTRY SYSTEMREGULATORY FRAMEWORKRESERVERETAILREVERSE AUCTIONSALESCENARIOSSPREADSUPPLIERSSUPPLY CHAINSUPPLY CHAINSSUPPLY OF CREDITSSUPPLY SIDESURETYTARGET MARKETTRADABLE CREDITSTRANSACTIONTRANSACTION COSTSTRANSPARENCYUNCERTAINTIESUNEPVERIFICATION OF EMISSION REDUCTIONSVOLUNTARY EMISSIONVOLUNTARY EMISSIONSWARRANTSWorking PaperWorld Bank10.1596/21830