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redbullet.jpg (4598 bytes) The Emerging International Greenhouse Gas Market
Pew Center on Global Climate Change
www.pewclimate.org/projects/trading.cfm
Emissions trading has become the 'policy of choice' for addressing climate change, according to this report (March 2002) from the Pew Center on Global Climate Change that documents the emergence of a market for greenhouse gas emissions. While the market remains fragmented, the report concludes that trading activity has increased around the world over the last five years. Among the forces bringing trading to the fore are progress in the international climate talks, new carbon trading systems in Europe, and private sector trading initiatives in the United States and elsewhere.

redbullet.jpg (4598 bytes) Emission Baselines: estimating the unknown
IEA
www.iea.org/books/studies/2000/em.base.pdf
This book provides that analysis, examining issues in the development of emission baselines in four key sectors: electricity; cement; energy efficiency; and iron and steel. This book moves the debate from the theoretical to the practical. It provides insights on how to develop credible, workable and transparent baselines from which to quantify the mitigation effects of projects initiated under the 'Kyoto mechanisms'.

redbullet.jpg (4598 bytes) International Emission Trading: from concept to reality
IEA
www.iea.org/public/studies/Trading2001sum.pdf (executive summary)
www.iea.org/public/studies/Trading2001toc.pdf (table of contents)
This book offers a comprehensive review of international emission trading, from the 'perfect' system envisaged in economic models to a more realistic view of how trading can actually work. It is based on market experiments and modelling undertaken by the International Energy Agency and other institutions. It takes an in-depth look at implications for the power generation sector, and considers how developing countries could be included in a future trading regime.

redbullet.jpg (4598 bytes) Risky Business: Lessons in risk management for an international greenhouse gas emissions market
WRI
www.wri.org/pdf/risky_business.pdf
The report (July 2001) identifies three risk-management principles as particularly pertinent to the emerging greenhouse gas emissions market, and fashions recommendations for each.