Winner of the Choice Outstanding Academic Titles of 2010 award. This book is a comprehensive and accessible guide to understanding the opportunities offered by regulated and voluntary carbon markets for tackling climate change. Coverage includes: - An overview of the problem of climate change, with a concise review of the most recent scientific evidence in different fields - A highly accessible introduction to the economic theory and different constitutive elements of a carbon allowances market - Explanation of the Kyoto Protocol and its flexibility mechanisms - Explanation of how the EU Emissions Trading Scheme works in practice - Ongoing developments in regulated carbon markets in the US - Up-to-the-minute coverage of regulated carbon markets in Australia - Developments in New Zealand and Japan - Carbon offsetting and voluntary carbon markets. Combining theoretical aspects with practical applications, this book is for business leaders, financiers, carbon traders, lawyers, bankers, researchers, policy makers and anyone interested in market mechanisms to mitigate climate change. The carbon emissions resulting from the production of this book have been calculated, reduced and offset to render the bookcarbon neutral. Published with CO2 Neutral
Table of Contents
Acknowledgements Foreword by Sir Nicholas Stern List of Acronyms and Abbreviations Introduction 1 Climate Change 2 Emissions Trading: A New Tool for Environmental Management 3 The Kyoto Protocol 4 The EU Emissions Trading Scheme 5 US Carbon Markets 6 Emissions Trading in Australia 7 Other Emerging Mandatory Schemes 8 Voluntary Offsetting Market 9 Conclusion: Carbon Markets in the Age of Uncertainty Index
Arnaud Broh is a Managing Partner at CO2logic, a leading carbon advisory and carbon offsetting firm based in Brussels. Previously he worked as a carbon advisor for a consulting firm. Nick Eyre is leader of the Lower Carbon Futures team at the Environmental Change Institute, Oxford University. Nicholas Howarth is a specialist on carbon markets and energy investment at the Oxford University School of Geography and Environment, prior to which he was economic advisor to the Australian Environment Minister. CO2logic, a leading advisory firm in the carbon markets, participates in the development of carbon reduction projects to generate carbon credits by implementing various flexibility mechanisms (CDM, Gold Standard, VCS). CO2logic also works with multinational companies to help them calculate, reduce and offset their greenhouse gas emissions to go 'CO2 Neutral'.
'Carbon markets are key to fighting climate change cost-effectively. This guide is timely as more and more countries follow Europe's lead in developing cap and trade systems. Linked together, these will establish a global carbon market over the coming years.' Stavros Dimas, European Commissioner for the Environment 'This book provides valuable insights into carbon markets, an important determinant of measures to mitigate emissions of greenhouse gases.' R.K. Pachauri, Chairman, Intergovernmental Panel on Climate Change (IPCC) 'The creation of political will require strong and powerful arguments. That is the responsibility of us all and an important contribution of this book.' From the Foreword by Nicholas Stern 'Get this book, round up an accomplished professor, and spend a full semester together dissecting the contents. You are likely to emerge as a greenhouse gas emissions trading expert. ...[The authors] do not miss a beat.' Crosslands Bulletin 'This well-written volume provides excellent background on the evolving area of carbon markets...Few publications address the relatively new issue of worldwide carbon markets so thoroughly' S. Dutta, Choice. 'Thought-provoking and convincing ... Highly recommended.' S. Dutta, Choice. 'This book strikes me as the first genuinely comprehensive - i.e. this is the only one you need - book on the subject.' Dan Lewis, research director with the Economic Research Council, in E&T Magazine 'After having rea through Brohe et al., any reader 'with no prior experience' will have a good overview of climate policies of the early 2000s' Axel Michaelowa, Climate Policy ' I find it interesting that it is possible to create an entirely new market for a specific social purpose, whereas we are used to being told that 'the market' is a forece beyond political control.' Kristian Ravnkilde, WEM.