TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Türk, Andreas
A1  - Mehling, Michael
A1  - Flachsland, Christian
A1  - Sterk, Wolfgang
T1  - Linking carbon markets : concepts, case studies and pathways
N2  - The barriers to linking greenhouse gas cap-and-trade schemes are assessed, based on an analysis of existing and emerging trading schemes, including those in the USA, Japan, Australia, New Zealand and the EU. The feasibility of different forms of linking and the time frames for their implementation are examined. In particular, the barriers to direct bilateral linking are considered. It was found that only a few direct bilateral links will be viable in the short term, due to the divergent policy priorities of different nations and regions, reflected in critical design features, such as costcontainment measures. However, in the short term, cap-and-trade markets will very likely be indirectly linked via unilateral links to the CDM or new crediting mechanisms, which may be adopted within a successor treaty to the Kyoto Protocol. In order to ensure a harmonization of critical design elements in the mid to long term, early institutional cooperation may become necessary. Necessary policy steps and the appropriate institutional framework for such harmonization and, overtime, further integration of trading schemes are briefly delineated.
T2  - Climate policy
VL  - 9
Y1  - 2009
U6  - https://dx.doi.org/10.3763/cpol.2009.0621
DO  - https://dx.doi.org/10.3763/cpol.2009.0621
IS  - 4
SP  - 341
EP  - 357
ER  -