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Will there be value for Kyoto units in a post-Kyoto regime?

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  • PABLO DEL R�O

Abstract

To what extent can Kyoto units issued pre- and post-2012 be used, and thus have a market value, under a range of post-Kyoto regimes/scenarios? Although the market value of these Kyoto units can be more easily recognized in certain scenarios than in others, this article shows that most post-Kyoto regime scenarios are compatible with such recognition. This depends not only on the particular design elements of the post-Kyoto regime implemented, but also on political decisions taken by national governments. There are incentives and disincentives for national governments to recognize such value in the absence of an international climate policy regime.

Suggested Citation

  • Pablo Del R�O, 2008. "Will there be value for Kyoto units in a post-Kyoto regime?," Climate Policy, Taylor & Francis Journals, vol. 8(1), pages 75-90, January.
    • Handle: RePEc:taf:tcpoxx:v:8:y:2008:i:1:p:75-90
    DOI: 10.3763/cpol.2007.0338
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    1. Frank Jotzo & John C. V. Pezzey, 2006. "A better Kyoto: options for flexible commitments," Economics and Environment Network Working Papers 0610, Australian National University, Economics and Environment Network.
    2. Karan Capoor & Philippe Ambrosi, "undated". "State and Trends of the Carbon Market 2007," World Bank Publications - Reports 13407, The World Bank Group.
    3. Unknown, 2005. "Forward," 2005 Conference: Slovenia in the EU - Challenges for Agriculture, Food Science and Rural Affairs, November 10-11, 2005, Moravske Toplice, Slovenia 183804, Slovenian Association of Agricultural Economists (DAES).
    4. Karan Capoor & Philippe Ambrosi, "undated". "State and Trends of the Carbon Market 2007," World Bank Publications - Reports 13406, The World Bank Group.
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