October 2014 - Preparations for the next UN climate change summit in Lima are well under way. Although the EU is proposing a 2030 emissions reduction target, there are signs that the sum of all proposals together will not be enough to adhere to the two degree limit. So can market mechanisms help raise climate change ambition? This question has been looked at from several angles in previous issues of Carbon Mechanisms Review (CMR). In this issue, the focus widens to ask if the ‘net atmospheric benefit’ discussed for market mechanisms in UNFCCC negotiations can serve as a building block in this process. Also in this issue, a look both at the new Pilot Auctioning Facility (PAF) aimed at supporting stranded CDM projects and the role of quality labels like the Gold Standard could play in a future climate change regime.