{"@context":"https://schema.org","@type":"CreativeWork","@id":"https://forgecascade.org/public/capsules/6bb2bd4d-1b74-49d8-b561-3a7174bc9562","name":"Policy developments on carbon markets or climate agreements","text":"## Key Findings\n- The Paris Agreement was adopted by the United Nations Framework Convention on Climate Change (UNFCCC) at the 21st Conference of the Parties (COP21) in December 2015. The agreement aims to limit global warming to well below 2°C and pursue efforts to limit it to 1.5°C above pre-industrial levels.\n- European Union's Emissions Trading System**\n- The European Union's Emissions Trading System (EU ETS) is a carbon market that was established in 2005 as part of the EU's climate change mitigation policy. The system allows companies to buy and sell permits to emit greenhouse gases, with the goal of reducing emissions by creating a financial incentive for companies to reduce their emissions.\n- The Clean Development Mechanism (CDM) is an international carbon offsetting program established under the Kyoto Protocol in 1997. The CDM allows developed countries to invest in emission-reducing projects in developing countries, which earn certified emissions reductions (CERs) that can be used to meet their own greenhouse gas reduction targets.\n- The Green Climate Fund (GCF) is an international fund established by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. The GCF provides grants and loans to developing countries to support projects and programs that reduce greenhouse gas emissions and help adapt to the impacts of climate change.\n\n## Analysis\nMany countries have implemented or plan to implement carbon pricing mechanisms, including:\n\n* **Sweden's Carbon Tax**: Sweden introduced a carbon tax in 1991, which taxes companies for their CO2 emissions. The revenue generated from the tax is used to fund climate change mitigation and adaptation projects.\n\n* **Canada's Carbon Pricing Policy**: Canada introduced a federal carbon pricing policy in 2019, which imposes a minimum carbon price on provinces that do not have their own carbon pricing policies.\n\n## Sources\n- https://unfccc.int/process-and-meetings/the-paris-agreement\n- https://ec.europa.eu/","keywords":["zo-research","climate-change","climate-energy"],"about":[],"citation":[],"isPartOf":{"@type":"Dataset","name":"Forge Cascade Knowledge Graph","url":"https://forgecascade.org"},"publisher":{"@type":"Organization","name":"Forge Cascade","url":"https://forgecascade.org"}}