Thomas L. Brewer, Michael A. Mehling

In The Oxford Handbook of Economic and Institutional Transparency, edited by Jens Forssbaeck and Lars Oxelheim. 179-197. New York: Oxford University Press, 2015

https://doi.org/10.1093/oxfordhb/9780199917693.013.0008

This chapter considers transparency with respect to carbon markets, government policies on climate change, and corporate exposures and disclosure practices concerning climate-related risks. It discusses carbon market issues concerning the infrastructure and transactions in three market segments: voluntary markets, emission allowances allocated by governments including the European Union, and project-based emission reduction credits as mandated by the Clean Development Mechanism and Joint Implementation programs of the Kyoto Protocol. It also examines corporate practice issues that reflect the exposure of firms to various risks posed by the consequences of climate change, as well as government policy issues involving policymaking processes and outcomes in several policy areas, such as monitoring, reporting, and verifying of countries’ greenhouse gas emissions.

Keywords: Transparency; Climate Governance; Carbon Markets; Corporate Disclosure; Accountability