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Governance, sustainability and carbon markets under the Paris Agreement

Author

Listed:
  • Josu Martínez-Serrano
  • Miguel Cuerdo-Mir

Abstract

The entry into force of the Paris Agreement, which can be considered the new international consensus to tackle reductions on greenhouse gas emissions from 2020, is facing up many unknown issues on methodology and governance. These are topics under constant negotiation among its signatory Parties. This paper, which methodology relies on a normative analysis of legal texts and bibliographic review on the carbon markets, identifies the key elements of this compromise, and shapes its weaknesses, paying special attention to the rules on carbon markets. It also outlines the obstacles that the already ongoing Clean Development Mechanism (CDM) of the Kyoto Protocol is facing up nowadays. Clearing up those uncertainties could trigger the development of new projects and innovation to obtain measurable emission reductions under the scope of the new compromise.

Suggested Citation

  • Josu Martínez-Serrano & Miguel Cuerdo-Mir, 2021. "Governance, sustainability and carbon markets under the Paris Agreement," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 15(2), pages 206-222.
    • Handle: RePEc:ids:ijisde:v:15:y:2021:i:2:p:206-222
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