Climate Change Research ›› 2019, Vol. 15 ›› Issue (3): 222-231.doi: 10.12006/j.issn.1673-1719.2018.155

• Carbon Market Development • Previous Articles     Next Articles

International market mechanisms under Paris Agreement: basic form and future prospects

Shuai GAO1,Meng-Yu LI2,Mao-Sheng DUAN2,Can WANG1()   

  1. 1 School of Environment, Tsinghua University, Beijing 100084, China
    2 Institute of Energy, Environment and Economy, Tsinghua University, Beijing 100084, China
  • Received:2018-11-07 Revised:2019-01-10 Online:2019-05-30 Published:2019-06-06
  • Contact: Can WANG


Article 6 of Paris Agreement introduces two international market mechanisms that, which receive extensive attention and will play an important role in post 2020 climate regime. Three key elements of the international market mechanisms, including the scope, the tradable units’ type and the governance, are identified, as the basis to clarify the basic forms of the two international market mechanisms. Based on the focus issues and their different design identified in negotiations, this paper analyzes the opportunities and challenges for China to participate in the international market mechanism. Considering the inherent needs of climate change mitigation, climate finance, the development of green Belt and Road and South-South Cooperation on climate change, and the existing domestic capacities on the market mechanisms, this paper puts forward the short-term, medium-term and long-term development prospects of the two international market mechanisms.

Key words: Paris Agreement, Market mechanism, Cooperative approaches, Sustainable development mechanism, Climate change

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