The clean development mechanism in a global carbon market

Bréchet, Thierry;Ménière, Yann;Picard, Pierre M.
(2012)

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Authors
  • Bréchet, ThierryUCLouvain
    Author
  • Ménière, YannEcole des Mines de Paris, CERNA
    Author
  • Picard, Pierre M.CREA, University of Luxembourg
    Author
Abstract
This paper discusses the role of the Clean Development Mechanism (CDM) on the market for carbon quotas and countries’ commitments to reduce their carbon emission levels. We show that the CDM contributes to an efficient funding of clean technology investments in least developed countries. However, the CDM is not neutral on the global level of carbon emissions as it entices countries to raise their emission caps. The CDM may also make inappropriate the inclusion of any country that takes no emission abatement commitment. It can even make inefficient a country’s decision to commit to an emission target.
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Bréchet, T., Ménière, Y., & Picard, P. M. (2012). The clean development mechanism in a global carbon market (CORE Discussion Paper 2012/40). https://hdl.handle.net/2078.5/207881