This book investigates the existing and possible links between the concept of a Carbon Club and the Paris Agreement. In doing so the book defines those criteria that may lead to an effective establishment of a Carbon Club acting within the mandate of the Paris Agreement and identifies the key questions that such an option may help to tackle:
- Which low-carbon pathways are compatible with the new temperature targets set by the Paris Agreement?
- Can new entities like the Carbon Club have a decisive role in guaranteeing the alignment of the aggregate mitigating actions with the global objectives identified within the Paris Agreement?
- What role will be played by market and non-market approaches within the proposed framework?
- How can economic, social, and environmental sustainability be ensured during the implementation of the Agreement?
- How can justice and equity be encouraged between the Parties and all the involved actors as required by the Agreement?
- Which instruments can be designed and adopted to provide the expected degree of transparency for the new system?
To respond to these questions the book adopts a holistic approach, able to emphasize the strong interrelations. The book discusses the opportunity to develop a Carbon Club within the Article 6 framework, and provides a feasible roadmap for its means of implementation, rules and governance structure. The final result is a feasible policy proposal that takes into account all the key issues introduced by the questions, and draws a roadmap towards a 'low-carbon Bretton Woods'.
