Proposal for Exploratory Work: Private International Law Issues related to Carbon Markets

Hague Conference on Private International Law

Download

Abstract: This Preliminary Document outlines the private international law issues related to carbon markets and includes a proposal for future work on these issues. The 1997 Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) introduced the concept of carbon credit,with the objective of creating a mechanism by which the emission of greenhouse gases into the atmosphere could be reduced. The Paris Agreement included carbon trading as a crucial component in the initiative to reduce carbon emissions in international and domestic supply chains.