In this article the problem of credible commitment in carbon policy is discussed. Investors favour long-term predictability of the policy, but without any external enforcement mechanisms a commitment made by a government can be withdrawn, leading to scepticism and lack of credibility. This...

A framework was devised for policy-makers to assess direct bilateral cap-and-trade linkages. A systematic analysis of the economic, political and regulatory implications indicates potential benefits along with a number of potentially negative sideeffects. Theoretically, economic benefits are...

This article argues that a legally binding, multilateral agreement is a necessary condition for achieving the highest levels of greenhouse gas (GHG) emission reductions consistent with limiting warming to below either 2°C or below 1.5°C. Clear legally binding commitments within a...

The barriers to linking greenhouse gas cap-and-trade schemes are assessed, based on an analysis of existing and emerging trading schemes, including those in the USA, Japan, Australia, New Zealand and the EU. The feasibility of different forms of linking and the time frames for their...