Published on Pew Center on Global Climate Change (http://www.pewclimate.org)
Table of Contents

The Emerging International Greenhouse Gas Market

Foreword    ii

Executive Summary     iii

I. Introduction    1

II. Origins of Greenhouse Gas Trading    3
A. U.S. Clean Air Act Amendments of 1990     3
B. The United Nations Framework Convention on Climate Change     3
C. Project-Based Programs     4
D. Corporate Emissions Trading Systems     6
 
III. Market Characteristics   7
A. Trader Motivations     9
B. Key Attributes of Trades     19
C. Roles of Service Providers     19
D. Case Studies     21

IV. Future Outlook     27
       A. Role of an International Agreement     27
       B. Trading Programs under Development     28
       C. Impacts of Concurrent Policy and Market Development     32
       D. Additional Greenhouse Gas Trading Initiatives     37
       E. Potential U.S. Development of a Parallel Trading System and/or
                 Participation in an International Agreement    39

V. Conclusions     46

Appendix I: Descriptions of Project-Based Programs     48

Appendix II: Descriptions of Corporate Emissions Trading Systems     52

Appendix III: Sample Term Sheet Offering Greenhouse
      Gas Reductions     53

Appendix IV: Descriptions of Emissions Trading Systems in Massachusetts,
      Denmark, and the United Kingdom     56

Endnotes     61 

Source URL: http://www.pewclimate.org/global-warming-in-depth/all_reports/international_greenhouse_gas_/trading_contents.cfm