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The market mechanisms of the Paris Agreement and the Kyoto Protocol: a legal comparison

In: Research Handbook on the Law of the Paris Agreement

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  • Géraud de Lassus St-Geniès

Abstract

Relying on market-based instruments to facilitate the achievement of mitigation targets has always been a distinctive feature of the UN climate regime. The 1997 Kyoto Protocol contained three mechanisms of this kind to assist Annex I parties to meet their quantified emission limitation and reduction objectives. In the 2015 Paris Agreement, two new market instruments were created under Article 6. This chapter offers a legal comparison of the regulatory frameworks of the market mechanisms established by these two climate treaties with the aim of answering the following question: Is the law of the Paris Agreement on market mechanisms an advance on the Kyoto Protocol?

Suggested Citation

  • Géraud de Lassus St-Geniès, 2024. "The market mechanisms of the Paris Agreement and the Kyoto Protocol: a legal comparison," Chapters, in: Alexander Zahar (ed.), Research Handbook on the Law of the Paris Agreement, chapter 12, pages 240-261, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20733_12
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800886742.00017
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