With Japan's withdrawal from the Kyoto Protocol it looked to contributing to reductions in global emissions through bilateral agreements with other countries. The mechanism used is termed the Bilateral Credit Mechanism. It borrows from the Kyoto Clean Development Mechanism but with some...

Global initiatives to reduce emissions can be categorised as either regulatory measures or measures that seek to place a price on carbon. Most jurisdictions employ a combination of the two with pricing measures generally preferred by economists. Where carbon is priced this is typically achieved...

Emissions reductions can be promoted through regulatory measures but most economists support placing a price on carbon as a complementary and, possibly, more effective measure. A pricing measure typically takes the form of either (or both) a carbon tax or an emissions trading scheme (ETS)....