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After Cancún: Climate Governance or Climate Conflicts by Elmar Altvater, Achim Brunnengräber

By Elmar Altvater, Achim Brunnengräber

The area is dealing with a number of critical demanding situations on the shut of the fossil and nuclear strength regime: the restricted assets of inexpensive traditional oil can merely be surmounted through tapping unconventional oil reserves, e.g. deep sea oil. The explosion of the oil platform Deepwater Horizon in 2010 and the following oil spill prompted huge, immense harm, which even a yr later can't be absolutely predicted. one other much more very important danger emanating from the fossil and nuclear strength regime has been dropped at our cognizance by means of the Fukushima catastrophe. final yet now not least, the matter of weather switch attributable to a rise in greenhouse gasoline emissions is looming, although the foreign group has agreed on a substantial relief of those emissions. is that this negative results of the Kyoto Protocol and the failure of successive weather meetings the outcome of a choice for using market-based tools? the vast majority of weather scientists, economists, and politicians think within the potency of “cap-and-trade” rules. They even conceive them as a constituent element of a “Green New Deal” or “Global eco-friendly Recovery”. The contributions during this quantity offer a serious exam of the theoretical foundations, the political implications, and the empirical reviews of the applying of industry mechanisms and fiscal tools to weather coverage.

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It is also apparent that there is more governance of carbon markets, including offsets, than critical and conventional accounts give credit for (Newell and Paterson 2010). Abyd Karmali, Managing Director, Global Head of Carbon Markets, Merrill Lynch puts it succinctiy: 36 Peter Newell / Matthew Paterson Thase who assume that the carbon market is purely a private marke! et is a creation of government policy. hat, to flourish, carbon markets need a strong regulator and approach to govemance. This means, for example, that the emission reduction targets must be mtcheted down over time, rules about eligibility of carbon credits must be clear etc.

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