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Introductory literature


This section provides you with further introductory literature on selected areas of the carbon markets.

Carbon Pricing worldwide


BMUB (2016): Carbon Pricing: Using Market-based Mechanisms to Mitigate Climate Change. Berlin: Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety.
This brochure from the Federal Environment Ministry describes the functioning of market-based climate change mitigation and provides an overview of the various carbon pricing instruments.


Wuppertal Institute (2021). Carbon Pricing: Using Market-based Mechanisms to Mitigate Climate Change. Wuppertal: The Wuppertal Institute for Climate, Environment and Energy.
This brochure provides an overview of the various carbon pricing approaches, explains how they work, and presents the current state of development.


World Bank (2022): State and Trends of Carbon Pricing 2022. Washington, DC: World Bank.
This World Bank report provides a good overview of the current status of carbon pricing initiatives worldwide. State and Trends of Carbon Pricing is updated annually.


ICAP (2023): Emissions Trading Worldwide: Status Report 2023. Berlin: International Carbon Action Partnership.
The ICAP status report in English presents the current developments in emissions trading systems worldwide.


PMR and ICAP (2021): Emissions Trading in Practice: a Handbook on Design and Implementation (2nd Edition). Washington D.C.: The World Bank.
The second edition builds on the key insights of the first edition, incorporating the important learnings and developments that have taken place over the last five years, as well as critical feedback gained from the practical application of the ETS Handbook by policymakers and practitioners in designing and implementing ETSs. 


PMR (2017): Carbon Tax Guide: A Handbook for Policy Makers. Washington D.C.: The World Bank.
This handbook supports political decision-makers in designing and implementing a CO2 tax. The guide provides both conceptual analysis and key practical insights from the implementation of carbon taxes around the world.


Cooperative Approaches under Article 6


Carbon Market Watch (2020): Carbon markets 101 – the ultimate guide to global offsetting mechanisms (version 2).
This briefing gives an overview of the current discussions under Article 6 of the Paris Agreement which establishes the foundation for market-based climate measures after 2020. It lays out key lessons from the Kyoto Protocol markets, highlights essential issues within the Article 6 negotiations, and provides recommendations on how to solve them.


Michaelowa, Axel, Aglaja Espelage and Benito Müller (2019): Negotiating cooperation under Article 6 of the Paris Agreement.
This strategy paper explains the crunch issues of the negotiations on Article 6 in generally accessible language, highlighting key differences between negotiating Parties.


Mehling, Michael A (2018): Governing Cooperative Approaches under the Paris Agreement (Discussion Paper ES 18-8) (p. 84).
This working paper presents key positions of the actors in the negotiations on Article 6.2 of the Paris Agreement and assesses relevant options currently under discussion. The paper concludes with a series of recommendations on the governance of Article 6.2.


Schneider, Lambert and Stephanie La Hoz Theuer (2018): Environmental integrity of international carbon market mechanisms under the Paris Agreement: Climate Policy, 1–15.
This journal article systematically examines the environmental integrity risks associated with the use of international market mechanisms and presents approaches to address them.


The voluntary carbon market


Forest Trends’ Ecosystem Marketplace (2022): State of Voluntary Carbon Markets. Washington, DC: Forest Trends.
This regularly published report provides an overview of developments in the voluntary carbon market.


Broekhoff, Derik, Michael Gillenwater, Tani Colbert-Sangree and Patrick Cage (2019): Securing Climate Benefit: A Guide to Using Carbon Offsets, 60.
This guide is aimed at organisations and individuals who want to understand how the voluntary carbon market works and learn about possible applications.


Lang, Sebastian, Mareike Blum and Sina Leipold (2019): What future for the voluntary carbon offset market after Paris? An explorative study based on the Discursive Agency Approach: Climate Policy, Vol. 19, Nr. 4, p. 414–426.
This article examines the impact of the Paris Agreement on the voluntary carbon market and how its key players are responding to these changes. The article traces the discourse within the voluntary market and identifies key strategies of the actors.

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