Frontmatter
Contents
Acknowledgments
Foreword: NYU Abu Dhabi and the Sustainable Environment
Summary of Key Findings and Recommendations
About the Contributors
Part I. Climate Change and Mitigation: Overview and Key Themes
1. Climate Finance for Limiting Emissions and Promoting Green Development: Mechanisms, Regulation, and Governance
2. Understanding the Causes and Implications of Climate Change
3. T e Climate Financing Problem: Funds Needed for Global Climate Change Mitigation Vastly Exceed Funds Currently Available
4. The Future of Climate Governance: Creating a More Flexible Architecture
Part II. Proposals for Climate Finance: Regulatory and Market Mechanisms and Incentives
A. Trading or Taxes?
5. Cap-and-Trade Is Preferable to a Carbon Tax
B. Reforming the Clean Development Mechanism (CDM )
6. Expectations and Reality of the Clean Development Mechanism: A Climate Finance Instrument between Accusation and Aspirations
C. Sectoral Programs for Emissions Control and Crediting
7. Why a Successful Climate Change Agreement Needs Sectoral Elements
8. Sectoral Crediting: Getting the Incentives Right for Private Investors
9. Forest and Land Use Programs Must Be Given Financial Credit in Any Climate Change Agreement
10. Stock-and-Flow Mechanisms to Reduce Land Use, Land Use Change, and Forestry Emissions: A Proposal from Brazil
D. Leveraging Trading to Maximize Climate Benefits
11. Mitigating Climate Change at Manageable Cost: Th e Catalyst Proposal
12. Engaging Developing Countries by Incentivizing Early Action
E. Linking Trading Systems
13. Carbon Market Design: Beyond the EU Emissions Trading Scheme
F. Investor Perspectives
14. Incentivizing Private Investment in Climate Change Mitigation
15. Investment Opportunities and Catalysts: Analysis and Proposals from the Climate Finance Industry on Funding Climate Mitigation
Part III. Bringing Developed and Developing Countries Together in Climate Finance Bargains: Trust, Governance, and Mutual Conditionality
A. Meeting Developing Country Climate Finance Priorities
16. Developing Country Concerns about Climate Finance Proposals: Priorities, Trust, and the Credible Donor Problem
17. Developing Countries and a Proposal for Architecture and Governance of a Reformed UNFCCC Financial Mechanism
18. Climate Change and Development: A Bottom-Up Approach to Mitigation for Developing Countries?
19. Operationalizing a Bottom-Up Regime: Registering and Crediting NAMAs
B. Conditionality and Its Governance
20. From Coercive Conditionality to Agreed Conditions: The Only Future for Future Climate Finance
21. Getting Climate-Related Conditionality Right
22. Making Climate Financing Work: What Might Climate Change Experts Learn from the Experience of Development Assistance?
Part IV. National Policies: Implications for the Future Global Climate Finance Regime
23. Climate Legislation in the United States: Potential Framework and Prospects for International Carbon Finance
24. The EU ETS: Experience to Date and Lessons for the Future
25. Greenhouse Gas Emissions and Mitigation Measures in China
26. Cities and GHG Emissions Reductions: An Opportunity We Cannot Afford to Miss
27. A Prototype for Strategy Change in Oil-Exporting MENA States? The Masdar Initiative in Abu Dhabi
Part V. Climate Finance and World Trade Organization (WTO) Law and Policy
28. The WTO and Climate Finance: Overview of the Key Issue
29. Carbon Trading and the CDM in WTO Law
30. Countervailing Duties and Subsidies for Climate Mitigation: What Is, and What Is Not, WTO-Compatible?
31. Border Climate Adjustment as Climate Policy
32. Enforcing Climate Rules with Trade Measures: Five Recommendations for Trade Policy Monitoring
33. Carbon Footprint Labeling in Climate Finance: Governance and Trade Challenges of Calculating Products' Carbon Content
Part VI. Taxation of Carbon Markets
34. Fiscal Considerations in Curbing Climate Change
35. Tax and Efficiency under Global Cap-and-Trade
36. Tax Consequences of Carbon Cap-and-Trade Schemes: Free Permits and Auctioned Permits
Afterword: Reflections on a Path to Effective Climate Change Mitigation
Abbreviations
Index