The Sky is Not the Limit

The Sky is Not the Limit
The Emerging Market in Greenhouse Gases
Carbon Trade Watch, TNI Briefing 1, January 2003

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Emissions trading lies at the crossroads between two of the most controversial faultlines in political-economic debate: Is neo-liberalism an engine of prosperity for all, or a monopolisation of global resources for the few? Is the United Nations undergoing a fatal crisis of legitimacy, or is it the last remaining hope for world peace and justice? "The Sky is Not the Limit" sets the stage for the emerging emissions markets and poses the question as to whether people are being cheated in the name of sustainable development.

Contents

• Introduction
• What is emissions trading?
• The origins of emissions trading
• Trading rules
• Kyoto in context
• Snapshots of key players
• Conclusion: Can emissions trading work?