Carmen Bunzl - Universidad Pontificia Comillas

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Chapter 5. Conclusions 242 Market based approaches are the best means to promote cost-effective climate change mitigation. There is broad consensus that all three market mechanisms under the Kyoto Protocol should continue in the future; the unresolved question is whether such systems can be imposed from the top down, as in the Kyoto Protocol, or whether a more viable framework would evolve organically from a variety of national and regional regimes. Here, as already presented, a top-down approach is preferred, although any bottom-up approach that would complement it is welcome. Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008
Chapter 5. Conclusions 243 3.4 Sectoral agreements The recent rise of sectoral approaches can be traced to concerns over competitiveness and leakage. They are regarded as an effective mean to encourage mitigation action in developing countries ahead of any binding national commitments, when combined with the CDM. Although not possible in some sectors such as those with disperse emission sources (agriculture), they should work in most emission- and energy-intensive sectors (electric power, refining, cement). May be a good way of incorporating international transport emissions (airlines, shipping) into the global agreement. Several sectoral initiatives and voluntary agreements are already in place (in the aluminum, steel and iron, and cement sectors). However, approaches targeting sectoral emissions should complement national emission reduction targets but not replace them. In an ideal world, an international climate agreement would include a global price on greenhouse gas emissions, applicable to all countries and all sectors, set by market-based systems such as cap-and-trade. But the reality is much more likely to be a patchwork of varying systems, with only some countries and sectors participating, at least at first. At the hard core of likely future agreements there is in fact a graduation of national targets. There may be ways to bridge this gap through linkage among systems, and agreements within energy-intensive, trade-exposed sectors. A sectoral approach could be combined with the CDM to gradually strengthen emissions commitments in developing countries. Escuela Técnica Superior de Ingeniería ICAI Carmen Bunzl Boulet Junio 2008
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UNIVERSIDAD PONTIFICIA COMILLAS ESC
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Summary ii Summary The objective of
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Summary iv The recent rise of secto
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Resumen vi compromisos para los pa
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Index viii Index CHAPTER 1. INTRODU
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Index xii 2.3.9 Overview of sectora
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Index of figures xiv Index of figur
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1 Introduction
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4 Case study: Spain
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Page 279 and 280: References 255 IPCC, 2007. Climate
Page 281: References 257 Persson, T.A., C. Az
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Carmen Bunzl - Universidad Pontificia Comillas

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