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The Kyoto Protocol and other measures to address climate change through the reduction of greenhouse gas emissions have spurred the emergence of a market for carbon emissions. Domestic climate policies and the application of the Kyoto mechanisms will have trade, investment and economic impacts on both developed and developing economies. The Carbon Market Programme explores these impacts, and works to promote a fair and effective global carbon market.

About the Carbon Market Programme

In 1999, the United Nations Fund for International Partnerships (UNFIP) funded the UNCTAD Emissions Trading Programme. At that time, UNCTAD's mission was to promote and develop a plurilateral greenhouse gas (GHG) emissions trading programme. In 1997 the Kyoto Protocol placed caps on emissions from developed countries and allowed the trading of emission allowances amongst them, and the introduction of project-based emission credits from developing and transitional countries. At the request of client countries, the programme focuses on exploring the economic, trade and investment impacts of climate change in developing and transitional countries, and works to promote their effective participation in the emerging carbon market.