Financing reduction of GHG emissions in India
Before a post-Kyoto accord considering all aspects of countries emissions, a first step may be necessary to prepare Chinese and Indian businesses to new economic conditions internalizing the constraints of climate change. Carbon markets serve as a way to achieve this kind of integration: they cap the amount of carbon emissions using a market that gives a price to the marginal abatement costs. Starting in 2005, the European carbon market is the most developed, even if it covers only a part of the European economy. The aim of this study is to evaluate what are the main differences between the Indian and European climate-oriented policies and see to what extent they may be linked in the following years.
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