Taking account of sinks credits as agreed in Bonn and Marrakech, this paper illustrates how market power could be exerted in the absence of the US ratification under Annex 1 trading and explores the potential implications of the non-competitive supply behavior for the international market of...

The notion of sectoral approaches – in which developing and emerging economies are incentivized to undertake efforts to reduce greenhouse gas emissions intensity or growth in key industrial sectors, potentially with assistance from developed countries – play an important role in the debate...