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Climate Action 2007-2008

The use of targets or

The use of targets or market mechanisms for emissions reductions in developing countries MARKET MECHANISMS 114 There is a strong perception among developed countries that net global greenhouse gas emissions (GHG) reductions are only possible by imposing targets on developing countries. But to do so is neither politically feasible nor technically practicable. We should not waste time designing targets into any post-Kyoto climate change regime. Instead, we should explore other options, such as market mechanisms. This article looks at the arguments for doing so. Target obsession and political deadlock Targets in the form of equal global quota TARGETS AGAINST BUSINESS AS USUAL TARGET SETTING FOR DEVELOPING COUNTRIES VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG

Vulnerability to external factors The technical difficulties and uncertainties involved in projecting a future emission trajectory are making many developing countries uneasy and reluctant to accept any form of target. Transformation of industrial structure HIGH IMPACT OF NON-CLIMATE POLICIES Agreeing on specific targets Agreeing on target level of per capita emissions Difficulty of verification DIVERSE MODIFIED TARGETS Intensity targets Sectoral targets MARKET MECHANISMS 115 VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG