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Legal Aspects of Carbon TradingKyoto, Copenhagen, and beyond$
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David Freestone and Charlotte Streck

Print publication date: 2009

Print ISBN-13: 9780199565931

Published to Oxford Scholarship Online: February 2010

DOI: 10.1093/acprof:oso/9780199565931.001.0001

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The Voluntary Carbon Market: Its Contributions and Potential Legal and Policy Issues

The Voluntary Carbon Market: Its Contributions and Potential Legal and Policy Issues

Chapter:
(p.517) 23 The Voluntary Carbon Market: Its Contributions and Potential Legal and Policy Issues
Source:
Legal Aspects of Carbon Trading
Author(s):

Passero Michelle

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199565931.003.0023

Over the past several years, transactions for the voluntary purchase and sale of greenhouse gas (GHG) emissions reductions have grown significantly. Also known as the ‘voluntary carbon market’, this market has provided a benefit to the climate by building public awareness and infrastructure for transactions and informing government climate policy. This chapter begins with a background on the voluntary carbon market — what it is and the reasons for its growth. It elaborates on the contribution of the voluntary market including the development of GHG reduction accounting standards, registries and policy. It then discusses the additional actions that could be taken in this respect, and identifies the potential need to clarify the legal nature of reductions in the voluntary market.

Keywords:   greenhouse gas emissions reduction, voluntary carbon market, emission trading

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