| December’s historic Paris Agreement was clinched after the highest profile event of its kind, attracting the largest number of heads of state and government in history. As always, there are many interpretations of the outcome, which will enter into force in 2020. However, in terms of the market mechanisms, despite the muted language in the final text, these are firmly back on the agenda as an instrument for climate action.
The emphasis of the climate negotiations in recent years has shifted away from the Kyoto type top-down approach to a bottom-up model. This is reflected both in the Paris outcome and in the approach to the harnessing of markets...............................................Full Article: Source
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