The Role of Market Mechanisms in Bridging the Gap

United Nations Environment Programme

The Role of Market Mechanisms in Bridging the Gap

dc.contributor.author	United Nations Environment Programme
dc.contributor.organization	Science Division
dc.date.accessioned	2021-10-21T10:32:38Z
dc.date.available	2021-10-21T10:32:38Z
dc.date.issued	2021
dc.description	This document explains how market mechanisms, including carbon taxes, emissions trading, and voluntary transactions, can help close the gap between current Nationally Determined Contributions and the emissions cuts needed for 1.5°C, as identified by the Emissions Gap Report 2021. It notes that the number of countries indicating possible use of cooperative approaches in new or updated NDCs has almost doubled, and that transparent, well-designed markets could lower costs, shift investment toward selling regions, and support higher ambition. It describes a diverse landscape of voluntary and compliance systems, estimates that 4–5 GtCO2e could be traded annually by 2030 if targets were economy-wide, and argues that redeploying cost savings could roughly double reductions at no extra cost. The document stresses inclusive sector and gas coverage and clear Article 6 rules to ensure real abatement and robust tracking.	en
dc.format	Text
dc.identifier.uri	https://wedocs.unep.org/handle/20.500.11822/37003
dc.language	English
dc.language	Spanish
dc.language	Russian
dc.language	Arabic
dc.language	French
dc.language	Chinese
dc.language	Swahili
dc.page.number	2 p.
dc.relation	UNEP DTU PARTNERSHIP
dc.relation.ispartof	Emissions Gap Report 2021: The Heat Is On – A World of Climate Promises Not Yet Delivered
dc.rights.accessLevel	Public
dc.subject	market
dc.subject	climate change
dc.subject	greenhouse gas
dc.subject.sdg	SDG 13 - Climate Action
dc.subject.theme	climate
dc.title	The Role of Market Mechanisms in Bridging the Gap	en
dc.title.alternative	Le rôle des mécanismes du marché pour combler l’écart entre les besoins et les perspectives en matière de réduction des émissions	fr
dc.title.alternative	市场机制在弥补排放差距方面的作用	zh
dc.title.alternative	Jukumu la mifumo ya soko katika kuziba pengo la kupunguza uzalishaji wa hewa chafuzi.	sw
dc.title.alternative	دور آليات السوق في سد الفجوة في خفض الانبعاثات	ar
dc.title.alternative	Роль рыночных механизмов в сокращении разрыва	ru
dc.title.alternative	El papel de los mecanismos de mercado en la reducción de la brecha	es
dc.type	Communication or other resource