Title: Carbon market and global climate governance: limitations and challenges

Authors: Andréa Cardoso Ventura; Luana das Graças Queiróz de Farias; Danielle Soares Paiva; Guineverre Alvarez Machado de Melo Gomes; José Célio Silveira Andrade

Addresses: Business Administration, Federal University of Bahia (Universidade Federal da Bahia – UFBA), Av. Reitor Miguel Calmon, s/n – Vale do Canela, Salvador, 40110-903 Bahia, Brazil ' Business Administration, Federal University of Bahia (Universidade Federal da Bahia – UFBA), Av. Reitor Miguel Calmon, s/n – Vale do Canela, Salvador, 40110-903 Bahia, Brazil ' Business Administration, Federal University of Bahia (Universidade Federal da Bahia – UFBA), Av. Reitor Miguel Calmon, s/n – Vale do Canela, Salvador, 40110-903 Bahia, Brazil ' Business Administration, Federal University of Bahia (Universidade Federal da Bahia – UFBA), Av. Reitor Miguel Calmon, s/n – Vale do Canela, Salvador, 40110-903 Bahia, Brazil ' Business Administration, Federal University of Bahia (Universidade Federal da Bahia – UFBA), Av. Reitor Miguel Calmon, s/n – Vale do Canela, Salvador, 40110-903 Bahia, Brazil

Abstract: Climate change has been a challenge to international diplomacy and to global climate governance (GCG) involving governments, companies and civil society. This paper discusses the limitations and challenges of the global carbon market as a mechanism of GCG and its role in the post-Kyoto period. This study is part of an interdisciplinary and multi-institutional research about GCG and carbon market and it is based on a deep literature review of national and international academic publications, as well as institutional documents from the United Nations international panel on climate changes (IPCC) and UN framework convention on climate change (UNFCCC). The findings reveal the limitations and challenges of the carbon market as a GCG mechanism to face the climate change. It defends the necessity of developing countries to strengthen their national and sub-national regulations in direction to a low carbon economy.

Keywords: GCG; global climate governance; carbon markets; climate change; post-Kyoto; literature review; developing countries; environmental regulations; low carbon economy.

DOI: 10.1504/IJISD.2015.067347

International Journal of Innovation and Sustainable Development, 2015 Vol.9 No.1, pp.28 - 47

Received: 23 Aug 2013
Accepted: 28 May 2014
Published online: 06 Feb 2015 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article