Abstract
Rosenzweig describes actions taken by President Bush and the international community during 2000–2008. These include the US decision to reject Kyoto and failure to take action to reduce GHG emissions. The chapter elaborates the emerging cap-and-trade debate, a Supreme Court decision that provided the impetus for future US policy, and bottom-up policy-making efforts. Internationally, Rosenzweig charts the evolution of the policies that created the carbon markets, including the creation of the EU ETS, the CDM rules, and Kyoto’s entry into force. A summary of early market activity is provided. And to illustrate how the markets worked, he provides a synopsis of three CDM deals completed by Natsource and one that failed.
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Notes
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Russia’s CO2 emissions in 1990 were 2.5 Gt CO2 of the Annex I total of nearly 15.2 Gt CO2 representing over 15 %. This data was derived from the GHG emission profiles for Annex I Parties and major groups in the GHG data section of the UNFCCC website. Available on the UNFCCC website at: http://unfccc.int/ghg_data/ghg_data_unfccc/ghg_profiles/items/4625.php
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Rosenzweig, R.H. (2016). The US Says No While the Carbon Market Moves Forward. In: Global Climate Change Policy and Carbon Markets. Energy, Climate and the Environment. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-56051-3_3
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