<p>Emissions trading systems are one of the most effective and cost-effective options to meet agreed climate change targets. Many countries in Latin America, including Brazil, Mexico, and Chile, are currently trying to implement such market-based instruments. In order to promote emissions trading systems as well as a continuously growing network of emission trading schemes in these newly industrialized countries, Ecologic Institute initiated contacts between employees of the German Federal Ministry of Environment and Latin American stakeholders dealing with emissions trading and its possible implementation.</p>