Emissions Trading

Addressing climate change has become a key challenge for policymakers around the world in the 21st century. Both scientific and economic evidence provide grounds for taking decisive action as soon as possible1 in order to stabilise “greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system” (Art. 2, UNFCCC). While climate change is unequivocal, in order to be able to adapt to the adverse effects of a changing climate, consensus has emerged that the average global temperature increase should be limited to below 2° Celsius, compared to pre-industrial levels.