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International emissions trading under the Kyoto Protocol: credit trading

机译:《京都议定书》之下的国际排放交易:信贷交易

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摘要

The Kyoto Protocol allows emissions trading between countries. The Protocol does however n0ot specify how such trade is to take place. So far two options have been discussed in the literature: government trading and permit trading. This paper discusses a third option: credit trading. Credit trading in based on abatement projects, but differs from joint implementation in that it does not require direct foreign investment. Furthermore, credit trading can be implemented both domestically and internationally. The main advantages of credit trading are that it excludes trading in hot air, while it still makes trade between private entities possible. However, the environmental effectiveness is doubtful, especially when it is based on relative targets.
机译:《京都议定书》允许各国之间进行排放交易。但是,议定书没有具体规定如何进行这种贸易。迄今为止,文献中已经讨论了两种选择:政府交易和许可交易。本文讨论了第三个选择:信用交易。基于减排项目的信贷交易,但与联合实施不同,因为它不需要直接外国投资。此外,信用交易可以在国内和国际上进行。信用交易的主要优点是它不进行热空气交易,同时仍使私人实体之间的交易成为可能。但是,环境效果令人怀疑,尤其是当它基于相对目标时。

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