This paper uses transaction and index data to empirically examine price formation in, and equilibrium characteristics of, the primary CDM market. Results point to the preemptive behaviour among intermediaries (carbon firms), and inefficiencies in information transmission between secondary and...

The Environmental Sustainability Clinic at the University of Minnesota Law School produced this report in May 2011. Cookstove change-out projects in developing nations seek to replace open fire burning with more efficient cookstove technology. This report analyzes the characteristics of...

Compliance carbon allowances and voluntary carbon credits are important tools to reduce carbon emissions and align production and consumption with the Paris Agreement. The four sizable compliance carbon allowance markets accessible to investors are those of the European Union, United Kingdom,...