December 14, 2015 by Rohan Nongpiur
Climate Connect, December 14, 2015: The 21st session of the Conference of Parties at Paris yielded a historic agreement on curbing greenhouse gas emissions. Around 200 countries agreed to a comprehensive agreement that will serve a stepping stone for a global mechanism to reduce GHG emissions over the next few decades.
One of the most significant aspects of the Paris Agreement is the recognition of market-based mechanisms to reduce GHG emissions. The Agreement leaves open the possibility of a global carbon market whose principles are expected to be chalked out before the decade is out.
This document, prepared by analysts of Climate Connect Limited working in the California, China and other emerging carbon markets, looks are the macro-level market outlook vis-a-vis the market mechanism provisions in the Paris Agreement.