International Emission Trading

International emission trading will be one of the most important tools in the effort to reduce greenhouse gas emissions in the atmosphere. While the private sector has embraced the concept and is well equipped to use it, implementation at the international level remains incomplete. This book provides a broad assessment of the issue from the 'perfect' system envisaged in economic models to a more realistic view of how trading can actually work. The review 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.The aim of the book is to clarify what can be expected from international emission trading in the energy sector, and in other activities.