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Handbook of Carbon Markets

Edited by: Harro van Asselt, Jørgen Wettestad

ISBN13: 9781035312641
To be Published: October 2026
Publisher: Edward Elgar Publishing Limited
Country of Publication: UK
Format: Hardback
Price: £185.00





This timely Handbook of Carbon Markets provides an overview and analysis of carbon markets in theory and practice. Scholars and practitioners from different disciplines and backgrounds evaluate the state of voluntary and compliance carbon markets, as well as their contribution to urgent climate and energy transitions.

Contributors present key insights into well-established and newly emerging carbon markets across the Americas, Asia, Europe, and Oceania. Chapters consider the rapidly evolving frameworks for global carbon markets, taking into account developments under the Paris Agreement and in voluntary carbon markets. Adopting a forward-looking approach, the Handbook explores topics including carbon dioxide removal, carbon leakage, carbon markets and climate justice, and the interactions between different types of carbon markets in achieving net-zero goals.

The Handbook of Carbon Markets is an essential resource for academics and researchers in climate policy, environmental law and economics. Postgraduate students and government officials will equally benefit from the balanced and diverse exploration of these key instruments of climate policy.

Subjects:
Environmental Law
Contents:
PART I SETTING THE SCENE
1. Introduction to carbon markets: from theory to practice 2
Harro van Asselt and Jørgen Wettestad
2. The economics of carbon markets 19
Christoph Böhringer and Knut Einar Rosendahl
3. The politics of carbon markets 38
Robert Watt and Matthew Paterson
4. The law of carbon markets 51
Michael Mehling

PART II INTERNATIONAL AND TRANSNATIONAL DIMENSIONS OF CARBON MARKETS
5. International carbon markets and the international climate regime: a roller-coaster ride 71
Axel Michaelowa
6. Carbon markets, carbon leakage, and trade 86
Alice Pirlot
7. The voluntary carbon market: reinventing itself to align with the Paris Agreement? 96
Nicolas Kreibich and Hanna-Mari Ahonen
8. Linkages among compliance, hybrid, and voluntary carbon markets 115
Elena Marro and Jos Delbeke

PART III REGIONAL AND NATIONAL CARBON MARKETS
9. EU emissions trading: a late-blooming frontrunner 131
Jørgen Wettestad and Brendan Moore
10. China’s carbon market: slow and steady wins the race? 145
Gørild Heggelund, Iselin Stensdal, Maosheng Duan, and Yan Qin
11. Carbon pricing in North America: a review of federal and subnational policies 162
Easwaran J. Narassimhan, Aman Srivastava, and Kelly Sims Gallagher
12. The hybrid construction of Australia’s carbon market 190
Rebecca Pearse
13. Can climate change acts cure the political maladies of emissions trading? Lessons from Aotearoa New Zealand 205
Ian Bailey and Tor Håkon Jackson Inderberg
14. Emissions trading in the Republic of Korea: limits and trade-offs of carbon pricing in the context of fossil fuel development 218
Asgeir Barlaup and Katja Biedenkopf
15. Carbon markets in Brazil: the interoperability of a compliance and a voluntary framework 233
Natascha Trennepohl

PART IV CROSSCUTTING ISSUES
16. Carbon markets and climate justice 245
Tomilola Akanle
17. Carbon dioxide removal and carbon markets 261
Asbjørn Torvanger