Carbon market mechanisms are well entrenched within the United Nations Framework Convention on Climate Change (UNFCCC). Trading of carbon emissions is permitted by the Kyoto Protocol, 1997, an agreement under the UNFCCC that requires specified rich industrializedcountries – those listed in Annex I of UNFCCC – to limit and reduce their greenhouse gas emissions to 1990 levels. The Kyoto Protocol was to[Read More...]
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