by Paul K. Gorecki, Seán Lyons and Richard S. J. Tol
- Under European Union proposals for CO2 emission reduction between 2013 and 2020, a Member State can transfer to another Member State the right to use its unused Clean Development Mechanism ("CDMs") credits. The paper addresses three issues in relation to these CDM Warrants ("CDMW"). First, how should the Member State treat the CDMW in making decisions concerning emission reduction? Second, what mechanism should be used to facilitate the exchange of CDMWs? Third, who should realise the value of CDMWs - the State, existing polluters etc?
Gorecki, P.K., S. Lyons and R.S.J. Tol (2009). "EU Climate Change Policy 2013-2020: Using the Clean Development Mechanism More Effectively." ESRI Working Paper 299, May 2009.