Key Documents

The Intergovernmental Panel on Climate Change recently released the Summary for Policymakers of the first volume of “Climate Change 2007”, also known as the Fourth Assessment Report (AR4). “Climate Change 2007: The Physical Science Basis”, assesses the current scientific knowledge of the natural and human drivers of climate change, observed changes in climate, the ability of science to attribute changes to different causes, and projections for future climate change.

The Stern Review is a comprehensive review on the economics of climate change. It was commissioned by the British Government and carried out by Sir Nicholas Stern, Head of the Government Economic Service and former World Bank Chief Economist.

The UN Framework Convention on Climate Change

The Kyoto Protocol to the United Nations Framework Convention on Climate Change

California’s Global Warming Solutions Act of 2006, commonly known as AB 32(2006), mandates greenhouse gas (GHG) emission reductions and provides for the use of market mechanisms to achieve emissions targets.
See: California Assembly Bill 32; California Air Resources Board – AB32 Implementation

Model Emissions Trading Documents
The Permanent Court of Arbitration has developed Optional Rules for Arbitration of Disputes Relating to Natural Resources and/or the Environment and model arbitration clauses that may be used with emissions trading agreements.

The International Emissions Trading Association Code of CDM Terms defines standardized contract terms that can be used with IETA's Emission Reduction Purchase Agreement for Clean Development Mechanism projects or the IETA Emission Allowances Single Trade Agreement for the EU Scheme. The PCA optional rules are referenced in these agreements.