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The Little Climate Finance Book
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The Little REDD Book gave me a jump-start when the Norwegian sponsored REDD
program was initiated. When I heard that the Little Climate Finance Book was ready
for launching, a hope for a wider understanding of the essence of financing, especially
through cap and trade systems, was raised. The climate challenge is substantial, and
predictable climate finance is essential in the search for a much-needed global solution.
I would like to draw attention to a few observations.
Firstly, the only variable that has climate impact in a closed cap and trade system is
the total, aggregate cap – not each individual cap. This aggregate is the total sum of
allowances admitted into the system for a specified period. It is this sum alone that
decides the emissions, and it is this sum alone that sets the carbon price. Interestingly
enough, with some few worthy exceptions, when caps are discussed, the debate is not
about the sum, but about the distribution of permits at the national level, and quotas or
AAUs (Assigned Amount Units) on the international level. When the cap is set however,
the distribution of permits or AAUs is solely a question of income distribution and has
no climate effect. Normally income distribution questions are handled by economic and
finance ministries and not by climate negotiators
Andrew W. Mitchell - Personal Name
1st Edition
NONE
The Little Climate Finance Book
Management
English
Global Canopy Foundation
2009
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