Governance of Fragmented Compliance and Voluntary Carbon Markets Under the Paris Agreement

Abstract: Over the past two decades, the emergence of multiple carbon market segments has led to fragmentation of governance of international carbon markets. International baseline-and-credit systems for greenhouse gas mitigation have been repeatedly expected to wither away, but show significant resilience. Still, Parties to the Paris Agreement have struggled to finalize rules for market-based cooperation under Article 6, which are still being negotiated. Generally, there is tension between international top-down and bottom-up governance. The former was pioneered through the Clean Development Mechanism under the Kyoto Protocol and is likely to be utilized for the Article 6.4 mechanism, while the latter was used for the first track of Joint Implementation and will be applied for Article 6.2. Voluntary carbon markets governed bottom-up and outside the Kyoto Protocol by private institutions have recently gained importance by offering complementary project types and methodological approaches. Th

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource
• Language: Englisch
• Notes: Veröffentlichungsversion ; begutachtet (peer reviewed) ; In: Politics and Governance ; 10 (2022) 1 ; 235-245

Classification and Topics

• Classification: Wirtschaft

Contributors, Places and Time

• Event: Veröffentlichung
• (where): Mannheim
• (who): SSOAR, GESIS – Leibniz-Institut für Sozialwissenschaften e.V.
• (when): 2022
• Creator: Ahonen, Hanna-Mari ; Kessler, Juliana ; Michaelowa, Axel ; Espelage, Aglaja ; Hoch, Stephan

Further information

• DOI: 10.17645/pag.v10i1.4759
• URN: urn:nbn:de:101:1-2023081613562447724112
• Rights: Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 14.08.2025, 10:55 AM CEST