Event:Climate Talk
As one of its key features, the Kyoto Protocol introduced market mechanisms in order to achieve climate targets at lowest cost. Instruments like emission trading, the Clean Development Mechanism and Joint Implementation have established markets for emission reductions worldwide. These instruments owe their existence to the Kyoto Protocol. However, the current commitment period of the Kyoto Protocol expires in 2012, and the prospects for an immediate successor agreement remain bleak. The 16th edition of Climate Talk discussed what this situation entails for the market mechanisms, and what measures the affected firms can take to deal with the uncertain outlook.