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Presents research on actual economic, political and institutional constraints and implications. This work examines the role of linking trading schemes for the development of the post-Kyoto climate architecture and for increasing linkage between schemes. It is suitable for those involved in the design of trading schemes and offset mechanisms.

A growing number of GHG emissions trading schemes are being implemented at regional or national levels. However, even as the number of different schemes grows, few linkages exist between them. Major cap-and-trade proposals are currently at important stages in their development, especially in the United States, Japan and Australia, some of which explicitly emphasize the aim of linking with other schemes. One of the strategic goals of European climate policy is linking the EU ETS with other comparable schemes. The research presented in this volume is on actual economic, political and...