Legal entities or persons might want to neutralize the greenhouse gas emissions they have caused with their activities. In the context of this paper, voluntary compensation is defined as the cancellation of emission reduction credits that have been generated in a project-based approach. The...

Art. 17 of the Kyoto Protocol defines International Emissions Trading exclusively on country level, sub-national entities like industrial installations or households are not included initially. However, there are some arguments for such an expansion, of which the most important ones are a...