IDEAS home Printed from https://ideas.repec.org/a/taf/tcpoxx/v12y2012i1p135-139.html
   My bibliography  Save this article

The political economy of carbon markets: The CDM and other stories

Author

Listed:
  • Peter Newell

Abstract

Despite ongoing faith in their ability to deliver meaningful reductions in GHG emissions as the Durban climate summit approaches in December 2011 and as the end of the first commitment period of the Kyoto Protocol in 2012 looms large, carbon markets have been adversely affected by low prices that are failing to drive necessary investment in low-carbon technology and a series of scandals about their integrity. Some Clean Development Mechanism (CDM) projects have nevertheless delivered reductions in GHG emissions and sustainable development benefits. However, these benefits are too few, and strong incentives still remain in place to go for 'low-hanging fruit' opportunities that bring few additional environmental and developmental gains. Although governance reforms have a part to play in addressing these issues, these are not teething problems that can be easily weeded out with further institutional learning and innovation. They touch on the deeper politics of carbon markets and the role politics play in responses to climate change that have to be addressed.

Suggested Citation

  • Peter Newell, 2012. "The political economy of carbon markets: The CDM and other stories," Climate Policy, Taylor & Francis Journals, vol. 12(1), pages 135-139, January.
    • Handle: RePEc:taf:tcpoxx:v:12:y:2012:i:1:p:135-139
    DOI: 10.1080/14693062.2012.640785
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/14693062.2012.640785
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/14693062.2012.640785?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Flues, Florens & Michaelowa, Axel & Michaelowa, Katharina, 2008. "UN approval of greenhouse gas emission reduction projects in developing countries: The political economy of the CDM Executive Board," Proceedings of the German Development Economics Conference, Zurich 2008 12, Verein für Socialpolitik, Research Committee Development Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ian G. Baird & W. Nathan Green, 2020. "The Clean Development Mechanism and large dam development: contradictions associated with climate financing in Cambodia," Climatic Change, Springer, vol. 161(2), pages 365-383, July.
    2. Trotter, Ian Michael & da Cunha, Dênis Antônio & Féres, José Gustavo, 2015. "The relationships between CDM project characteristics and CER market prices," Ecological Economics, Elsevier, vol. 119(C), pages 158-167.
    3. Thurner, Thomas W. & Varughese, Arun, 2013. "Experiences of project developers around CDM projects in South Africa," Energy Policy, Elsevier, vol. 61(C), pages 1271-1275.
    4. Purdon, Mark, 2015. "Opening the Black Box of Carbon Finance “Additionality”: The Political Economy of Carbon Finance Effectiveness across Tanzania, Uganda, and Moldova," World Development, Elsevier, vol. 74(C), pages 462-478.
    5. Anderson, Brilé & Bernauer, Thomas, 2016. "How much carbon offsetting and where? Implications of efficiency, effectiveness, and ethicality considerations for public opinion formation," Energy Policy, Elsevier, vol. 94(C), pages 387-395.
    6. Femenias Rosselló, Llorenç B. & Bujosa Bestard, Angel & Riera Font, Antoni, 2024. "Is carbon footprint reduction always preferred over offsetting? An analysis of tourists' preferences in the Mallorca region," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1371-1381.
    7. Jonathan Silver, 2017. "The climate crisis, carbon capital and urbanisation: An urban political ecology of low-carbon restructuring in Mbale," Environment and Planning A, , vol. 49(7), pages 1477-1499, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Philip Fearnside, 2015. "Tropical hydropower in the clean development mechanism: Brazil’s Santo Antônio Dam as an example of the need for change," Climatic Change, Springer, vol. 131(4), pages 575-589, August.
    2. Millard-Ball, Adam & Ortolano, Leonard, 2010. "Constructing carbon offsets: The obstacles to quantifying emission reductions," Energy Policy, Elsevier, vol. 38(1), pages 533-546, January.
    3. Ashish Aggarwal, 2014. "How sustainable are forestry clean development mechanism projects?—A review of the selected projects from India," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 19(1), pages 73-91, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:tcpoxx:v:12:y:2012:i:1:p:135-139. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/tcpo20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.