Making GHG Emissions Trading Work—Crucial Issues in Designing National and International Emissions Trading Systems (original) (raw)

The paper discusses the design and implementation of emissions trading systems at both national and international levels, particularly in the context of the Kyoto Protocol. It emphasizes the need for careful consideration of various parameters such as emission targets, participant types, and compliance mechanisms to enhance efficiency and maintain environmental integrity. The analysis explores the indirect inclusion of non-state entities in emissions trading and evaluates the implications of design choices on transaction costs and market liquidity.