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From Marrakesh to Glasgow: Looking Backward to Move Forward on Emissions Trading

From Marrakesh to Glasgow: Looking Backward to Move Forward on Emissions Trading AbstractThe Paris Rulebook—nearly complete, but with the ‘markets’ text tied to Article 6 of the Paris Agreement unadopted after nearly three years—invites comparison with a similar effort under the Kyoto Protocol: the Marrakesh Accords. This article compares the Paris Rulebook and the 2001 Marrakesh Accords implementing the Kyoto Protocol as a way of exploring the similarities and differences in regulatory design between the two sub-regimes and their implications for sustainability and climate integrity. An in-depth analysis of the negotiating history and the text of the two instruments yields trenchant and perhaps unexpected conclusions. Issues that plagued the Marrakesh Accords also appear in similar form in the Paris Rulebook discussions around Article 6; however, because of the difference in structure between the two treaties, even more complex issues have arisen in the Rulebook negotiations. The article reflects on the fundamentally different purpose of the ‘markets’ text in the Rulebook in comparison with its Kyoto/Marrakesh precursor, as well as on the implications of those differences for the Article 6 negotiations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Climate Law Brill

From Marrakesh to Glasgow: Looking Backward to Move Forward on Emissions Trading

Climate Law , Volume 11 (3-4): 20 – Nov 16, 2021

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1878-6553
eISSN
1878-6561
DOI
10.1163/18786561-11030002
Publisher site
See Article on Publisher Site

Abstract

AbstractThe Paris Rulebook—nearly complete, but with the ‘markets’ text tied to Article 6 of the Paris Agreement unadopted after nearly three years—invites comparison with a similar effort under the Kyoto Protocol: the Marrakesh Accords. This article compares the Paris Rulebook and the 2001 Marrakesh Accords implementing the Kyoto Protocol as a way of exploring the similarities and differences in regulatory design between the two sub-regimes and their implications for sustainability and climate integrity. An in-depth analysis of the negotiating history and the text of the two instruments yields trenchant and perhaps unexpected conclusions. Issues that plagued the Marrakesh Accords also appear in similar form in the Paris Rulebook discussions around Article 6; however, because of the difference in structure between the two treaties, even more complex issues have arisen in the Rulebook negotiations. The article reflects on the fundamentally different purpose of the ‘markets’ text in the Rulebook in comparison with its Kyoto/Marrakesh precursor, as well as on the implications of those differences for the Article 6 negotiations.

Journal

Climate LawBrill

Published: Nov 16, 2021

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