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There is growing clamor in industrial countries for additional border taxes on imports from countries with lower carbon prices. The authors confirm the findings of other research that unilateral emissions cuts by industrial countries will have minimal carbon leakage effects. However, output and exports of energy-intensive manufactures are projected to decline potentially creating pressure for trade action. A key factor affecting the impact of any border taxes is whether they are based on the carbon content of imports or the carbon content in domestic production. Their quantitative estimates suggest that the former action when applied to all merchandise imports would address competitiveness and environmental concerns in high income countries but with serious consequences for trading partners. For example, China's manufacturing exports would decline by one-fifth and those of all low and middle income countries by 8 per cent; the corresponding declines in real income would be 3.7 per cent and 2.4 per century Border tax adjustment based on the carbon content in domestic production, especially if applied to both imports and exports, would broadly address the competitiveness concerns of producers in high income countries and less seriously damage developing country trade.

Aluminum --- Carbon --- Carbon content --- Carbon emissions --- Carbon leakage --- Carbon price --- Carbon prices --- Carbon tax --- Carbon taxes --- Climate --- Climate Change --- Climate Change Economics --- Climate Change Mitigation and Green House Gases --- Domestic emissions --- Emission --- Emission allowances --- Emission reductions --- Emissions --- Emissions cuts --- Emissions reductions --- Energy --- Environment --- Iron --- Macroeconomics and Economic Growth --- Quantitative analysis

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This paper builds on the findings of an earlier unpublished discussion paper titled "designing a model for networked carbon markets", with its objective being to describe key elements of the mitigation value assessment process. The outcome of this paper will inform a model for the Networked Carbon Markets concept, to be prepared at a later date. The following section two acknowledges the subject matter of the NCM initiative, namely the diverse and heterogeneous trading schemes and other carbon pricing mechanisms that are being put in place by jurisdictions around the globe. As this is the subject of another World Bank paper, only a brief reference is included. Section three sets out a conceptual framework within which to consider the key elements described in the glossary of terms, addressed in section four and annexure 'C'. This section also looks at different transaction scenarios, introducing the concepts of an international transaction unit and an index. Section five turns attention to the types of institutions that might be suitable to participate in the mitigation value assessment process, providing practical examples, and considering the types of expertise and tools those institutions might leverage. Section six considers options for regulatory supervision of the MV assessment process. Section seven looks in more detail at the relationship between mitigation value and the compliance value that might be attached to carbon assets and, in so doing, considers the role and function of the settlement platform. This section also considers the feasibility and potential benefits of an index. The concluding section eight looks at the next steps that might flow from this work.

Accounting --- Acid Rain --- Carbon Dioxide --- Carbon Emissions --- Climate --- Climate Change --- Climate Change Economics --- Climate Change Mitigation and Green House Gases --- Consumer Protection --- Contracts --- Creditworthiness --- Currencies --- Debt --- Default --- Emission Reductions --- Emissions --- Energy --- Environment --- Exchange Rates --- Finance --- Financial Crisis --- Fraud --- Global Warming --- Greenhouse Gases --- Investment Banks --- Legal System --- Macroeconomics and Economic Growth --- Montreal Protocol --- Mortgages --- Private Investment --- Securities --- Sovereign Debt --- Temperature --- Transparency

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Mexico, Costa Rica, and Ecuador have substantial experience with implementing payments for ecosystem services (PES) and conservation incentive programs. Yet, many aspects of their experiences remain poorly understood and will require special attention in any new or expanded use of these types of incentives. As these countries, along with many others, get ready to implement integrated approaches to Reduced Emissions from Deforestation and Forest Degradation (REDD or REDD+), they seek to understand how the lessons and challenges from their past experiences, as well as the wider lessons from similar initiatives around the world, can inform their emerging REDD+ strategies, policies, institutional frameworks, and tools. This report describes examples of how each of these topics has been tackled in national programs and how these experiences can inform the development of REDD+ in the three focus countries and beyond.

Afforestation --- Aquaculture --- Audits --- Carbon Credits --- Carbon Emissions --- Clean Development Mechanism --- Climate --- Climate Change --- Climate Change Mitigation and Green House Gases --- Conservation --- Deforestation --- Economic Development --- Ecosystems --- Electricity --- Emission Reductions --- Emissions --- Energy --- Energy and Environment --- Environment --- Environment and Energy Efficiency --- Environmental Economics & Policies --- Forests --- Fossil Fuels --- Logging --- Natural Resources --- Property Rights --- Renewable Energy --- Risk Management --- Streams --- Transaction Costs --- Transparency --- Water Conservation --- Water Resources

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Tanzania's land, local government and forest laws mean that rural communities have well defined rights to own, manage and benefit from forest and woodland resources within their local areas through the establishment of village forests. This approach, known by practitioners as Community Based Forest Management (CBFM) results in the legal establishment of village land forest reserves, community forest reserves or private forests. By 2008, 1,460 villages on mainland Tanzania1 were involved in establishing or managing village forests covering a total of over 2.345 million hectares. A further 863 villages are currently involved in Joint Forest Management (JFM) approaches within government forest reserves, in which management responsibilities are shared between government and local communities. 1.78 million hectares of forest reserve under central or local government jurisdiction are now under JFM arrangements. Since 2008, the Tanzanian government has been making preparations for the establishment of systems and structures for REDD Plus (Reduced Emissions from Deforestation and Forest Degradation). Tanzania is being supported in its preparations by the World Bank's Forest Carbon Partnership Facility (FCPF), UN-REDD plus and the Norwegian Forests and Climate Initiative as well as a number of local and international Non Government Organizations (NGOs). This report has been prepared to provide inputs to the development of policy processes currently evolving in Tanzania regarding REDD plus. This review draws on almost two decades of experience within Tanzania on the development and establishment of Participatory forest management (PFM) an approach which (like REDD plus), aims to achieve the combined objectives of sustainable forest management with secure rights, improved local forest governance and secure livelihoods for forest-dependent communities.

Afforestation --- Agriculture --- Biodiversity --- Carbon Credits --- Charcoal Production --- Climate --- Climate Change and Environment --- Climate Change Mitigation and Green House Gases --- Decision Making --- Economies of Scale --- Ecosystems --- Emission Reductions --- Emissions --- Environment --- Environmental Economics & Policies --- Forests --- Global Environment Facility --- Land Tenure --- Livestock --- Logging --- National Parks --- Natural Resources --- Natural Resources Management --- Oil Palm --- Participations and Civic Engagement --- Property Rights --- Roads --- Social Development --- Transaction Costs --- Trees --- Villages --- Wildlife Resources

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This paper presents first concepts and insights on an International Carbon Asset Reserve. In particular, it explores how different design options can support a range of networked carbon pricing efforts. The report provides an overview of key risks in carbon markets, highlights the benefits of pooling risks on an aggregated scale, and identifies potential design options and structures for an international carbon asset reserve. The paper contributes to the wide effort to promote a long-term price on carbon and carbon market stabilization, comparability, and networking.

Afforestation --- Auctions --- Carbon Cycle --- Carbon Dioxide --- Carbon Emissions --- Carbon Finance --- Carbon Policy and Trading --- Carbon Sequestration --- Carbon Taxes --- Climate --- Climate Change --- Climate Change Economics --- Climate Change Mitigation and Green House Gases --- Debt Markets --- Emission Reductions --- Emissions --- Energy --- Energy and Environment --- Energy Efficiency --- Energy Policy --- Environment --- Finance and Financial Sector Development --- Forests --- Fossil Fuels --- Fuels --- Incentives --- Inflation --- Macroeconomics and Economic Growth --- Price Volatility --- Renewable Energy