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Commentary
Nature 445, 595-596 (8 February 2007) | doi:10.1038/445595a; Published online 7 February 2007
Is the global carbon market working?
Michael Wara1
- Michael Wara was at the Program on Energy and Sustainable Development, Stanford University, Stanford, California 94305, USA, and is now at Holland & Knight LLP, 50 California Street, San Francisco, California 94111, USA.
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Abstract
The Clean Development Mechanism can be viewed not only as a market, but also as a subsidy and a political mechanism. Michael Wara argues that it has been most effective, so far, in achieving its political goals.
A perennial problem in international climate politics is how to engage developing nations in controlling greenhouse-gas emissions. These countries have more immediate priorities than climate change.
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