There is an emerging planetary consensus: Climate protection is necessary. Preventing global mean temperature from rising more than 2°C above pre-industrial levels is a common goal of climate protection. In essence, it requires a stabilization of carbon dioxide emissions within the next two...

To finance the transition to low-carbon economies required to mitigate climate change, countries are increasingly using a combination of carbon pricing and green bonds. This paper studies the reasoning behind such policy mixes and the economic interaction effects that result from these different...

Linking of two or more cap-and-trade systems promises gains in cost effectiveness and signals a strong commitment to carbon policy. Linking is also seen as one possible way of converging from regional climate policy initiatives toward a global climate policy architecture. Moreover, linking may...