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9781782545675

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'Against all odds, the CDM has shown that market mechanisms for greenhouse gas reduction in developing countries can work. Nevertheless, as Paula Castro explains convincingly, the CDM is no magic bullet . Advanced developing countries need to be weaned off the CDM in order to take up commitments, while the monetary incentive from emission credit sales is insufficient to put least developed countries on a low-emission pathway. However, experience from the CDM remains critical in designing new market mechanisms.' -- Axel Michaelowa, University of Zurich, Switzerland

'Against all odds, the CDM has shown that market mechanisms for greenhouse gas reduction in developing countries can work. Nevertheless, as Paula Castro explains convincingly, the CDM is no magic bullet . Advanced developing countries need to be weaned off the CDM in order to take up commitments, while the monetary incentive from emission credit sales is insufficient to put least developed countries on a low-emission pathway. However, experience from the CDM remains critical in designing new market mechanisms.' - Axel Michaelowa, University of Zurich, Switzerland

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Paula Castro, Department of Political Science, University of Zurich, Switzerland

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