Diminishing Returns: Carbon Market Crisis and the Future of Market-Dependent Climate Change Finance

References

• Adger, N. (2010), ‘Climate Change, Human Well-Being and Insecurity’, New Political Economy, 15 (2), pp. 275–92. doi: 10.1080/13563460903290912
   Web of Science ®Google Scholar
• Allan, A. (2012), ‘EC Clears Free EUAs for Czech, Romanian and Bulgarian Utilities’, Carbon Market Daily, 9 (142), pp. 1–4.
   Google Scholar
• Allan, A. (2013a), ‘EU CO2 Fix Failure May Hit U.N. Climate Aid Plan: Negotiators’, Carbon Market Daily, 10 (29), pp. 1–3.
   Google Scholar
• Allan, A. (2013b), ‘Scrap Fuel Subsidies and Price CO2, Urges World Bank’, Carbon Market Daily, 10 (85), p. 3.
   Google Scholar
• Allan, A. and Kruppa, M. (2012), ‘EU OKs Polish Plan to Given Utilities 404-mln CO2 Permits’, Carbon Market Daily, 9 (137), pp. 1–4.
   Google Scholar
• Andonova, L. and Mitchell, R. (2010), ‘The Rescaling of Global Environmental Politics’, Annual Review of Environment and Resources, 35 (1), pp. 255–82. doi: 10.1146/annurev-environ-100809-125346
   Web of Science ®Google Scholar
• Andonova, L., Betsill, M. and Bulkeley, H. (2009), ‘Transnational Climate Governance’, Global Environmental Politics, 9 (2), pp. 52–73. doi: 10.1162/glep.2009.9.2.52
   Web of Science ®Google Scholar
• Bailey, I. and Maresh, S. (2009), ‘Scales and Networks of Neoliberal Climate Governance: The Regulatory and Territorial Logics of European Union Emissions Trading’, Transactions of the Institute of British Geographers, 34 (4), pp. 445–61. doi: 10.1111/j.1475-5661.2009.00355.x
   Web of Science ®Google Scholar
• Bakker, I. and Gill, S. (2003), ‘Global Political Economy and Social Reproduction’, in I. Bakker and S. Gill (eds), Power, Production and Social Reproduction (New York: Palgrave Macmillan), pp. 3–16.
   Google Scholar
• Bakker, S., et al. (2011), ‘The Future of the CDM: Same Same, but Differentiated?’ Climate Policy, 11 (1), pp. 752–67. doi: 10.3763/cpol.2009.0035
   Web of Science ®Google Scholar
• Bernstein, S. and Cashore, B. (2007), ‘Can Non-State Global Governance Be Legitimate? An Analytical Framework’, Regulation and Governance, 1 (4), pp. 347–71. doi: 10.1111/j.1748-5991.2007.00021.x
   Web of Science ®Google Scholar
• Betsill, M. and Bulkeley, H. (2004), ‘Transnational Networks and Global Environmental Governance: The Cities for Climate Change Protection Program’, International Studies Quarterly, 48 (2), pp. 471–93. doi: 10.1111/j.0020-8833.2004.00310.x
   Web of Science ®Google Scholar
• Bloomberg New Energy Finance (2012), ‘Global Carbon Market Expands 10% in 2011’, Bloomberg New Energy Finance, 11 January.
   Google Scholar
• Böhm, S. and Dabhi, S., (eds.) (2009), Upsetting the Offset: The Political Economy of Carbon Markets (London: May Fly Books).
   Google Scholar
• Böhm, S., Misoczky, M.C. and Moog, S. (2012), ‘Greening Capitalism? A Marxist Critique of Carbon Markets’, Organization Studies, 33 (11), pp. 1617–38. doi: 10.1177/0170840612463326
   Web of Science ®Google Scholar
• Bond, P., et al. (2012), The CDM in Africa Cannot Deliver the Money (Durban: University of KwaZulu-Natal Centre for Civil Society and Dartmouth College Climate Justice Research Project).
   Google Scholar
• Bowen, A. (2011), ‘Raising Climate Finance to Support Developing Country Action: Some Economic Considerations’, Climate Policy, 11 (2011), pp. 1020–36. doi: 10.1080/14693062.2011.582388
   Web of Science ®Google Scholar
• Brown, J., Stadelmann, M. and Hörnlein, L. (2011), Fast-start Finance to Address Climate Change: What We Know at the Mid-point (London: Overseas Development Institute).
   Google Scholar
• Bulkeley, H. (2005), ‘Reconfiguring Environmental Governance: Towards a Politics of Scales and Networks’, Political Geography, 24 (8), pp. 875–902. doi: 10.1016/j.polgeo.2005.07.002
   Web of Science ®Google Scholar
• Bumpus, A. and Liverman, D. (2008), ‘Accumulation by Decarbonization and the Governance of Carbon Offsets’, Economic Geography, 84 (2), pp. 127–55. doi: 10.1111/j.1944-8287.2008.tb00401.x
   Web of Science ®Google Scholar
• Castree, N. and Braun, B. (1998), ‘The Construction of Nature and Nature of Construction: Analytical and Political Tools for Building Survivable Futures’, in N. Castree and B. Braun (eds), Remaking Reality: Nature at the Millennium (New York: Routledge), pp. 3–42.
   Google Scholar
• Castro, P. (2010), Climate Change Mitigation in Advanced Developing Countries: Empirical Analysis of the Low-hanging Fruit Issue (Zurich: University of Zurich).
   Google Scholar
• CDC Climat Research (2012), Climate Brief: Focus on the Economics of Climate Change (Paris: CDC Climat), 1–6.
   Google Scholar
• Checker, M. (2009), ‘Double Jeopardy: Pursuing the Path of Carbon Offsets and Human Rights Abuses’, in S. Böhm and S. Dabhi (eds), Upsetting the Offset: The Political Economy of Carbon Markets (London: May Fly Books), pp. 41–56.
   Google Scholar
• Chestney, N. (2013), ‘Analysts Cut EU Carbon Price Forecasts’, Carbon Market Daily, 10 (5), pp. 3–4.
   Google Scholar
• Chestney, N. and Coelho, J. (2011), ‘Carbon Offset Firms Feel Heat of Price Crash’, Financial Post, 29 November.
   Google Scholar
• Clapp, J. and Helleiner, E. (2012), ‘International Political Economy and the Environment: Back to the Basics?’ International Affairs, 88 (3), pp. 485–501. doi: 10.1111/j.1468-2346.2012.01085.x
   Web of Science ®Google Scholar
• Clark, P. and Blas, J. (2012), ‘Carbon Prices Tumble to Record Low’, Financial Times, 2 April, sec. Commodities.
   Google Scholar
• Corbera, E. and Friedi, C. (2012), ‘Planting Trees Through the Clean Development Mechanism: A Critical Assessment’, Ephemera: Theory and Politics in Organization, 12 (1/2), pp. 206–41.
   Google Scholar
• Cox, R. (1981), ‘Social Forces, States and World Orders: Beyond International Relations Theory’, Mellennium Journal of International Studies, 10 (2), pp. 126–55. doi: 10.1177/03058298810100020501
   Google Scholar
• DARA (2012), Climate Vulnerability Monitor: A Guide to the Cold Calculus of a Hot Planet, 2nd ed. (Geneva: Fundación DARA Internacional and the Climate Vulnerable Forum).
   Google Scholar
• De Lopez, T., et al. (2009), ‘Clean Development Mechanism and Least Development Countries: Changing the Rules for Greater Participation’, The Journal of Environment and Development, 18 (4), pp. 436–52. doi: 10.1177/1070496509347744
   Google Scholar
• Dinar, A., et al. (2011), ‘Local Actions, Global Impacts: International Cooperation and the CDM’, Global Environmental Politics, 11 (4), pp. 108–33. doi: 10.1162/GLEP_a_00086
   Web of Science ®Google Scholar
• Drew, Jonathan. (2010), ‘Government Failure and the EU ETS: What Prospects for Phase 3?’, in Climate of Opinion: Stockholm Network's Energy and Environment Update Issue 14: Life After Cophenhagen. p. 3. Available from: http://www.stockholm-network.org/downloads/publications/Andres_Drew_EU_ETS_1.pdf [accessed 14 December 2012].
   Google Scholar
• EcoSecurities. (2007), Guidebook to Financing CDM Projects (Roskilde: CD4CDM).
   Google Scholar
• Ervine, K. (2007), ‘The Greying of Green Governance: Power Politics and the Global Environment Facility’, Capitalism, Nature, Socialism, 18 (4), pp. 125–42. doi: 10.1080/10455750701705161
   Google Scholar
• Ervine, K. (2012), ‘The Politics and Practice of Carbon Offsetting: Silencing Dissent’, New Political Science, 34 (1), pp. 1–20. doi: 10.1080/07393148.2012.646017
   Google Scholar
• EurActiv.com (2010), ‘Steel, Cement to Cash Free Emission Permit Billions’, EurActiv.com, 5 March.
   Google Scholar
• EurActiv.com (2012), ‘EU Emissions Drop Triggers Carbon Price Freefall’, EurActiv.com, 3 April.
   Google Scholar
• European Daily Carbon Markets. (2012), ‘EU Institutions’ Disagreement on Carbon Set-Aside Continues’, European Daily Carbon Markets, 11 April.
   Google Scholar
• European Union. (2011), ‘Emissions Trading: Commission Welcomes Vote to Ban Certain Industrial Gas Credits’. Available from: http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/56 [accessed 27 April].
   Google Scholar
• Evaluation Office – GEF. (2006), Evaluation of Incremental Cost Assessment (Washington, DC: GEF), pp. 1–64.
   Google Scholar
• Garside, B. (2012), ‘Scenarios: Where Now for the Set-Aside?’ Carbon Market Daily, 8 (51), pp. 1–5.
   Google Scholar
• Garside, B. and Allan, A. (2013), ‘EU Nations Fail to Reach Deal on Backloading: Ireland’, Carbon Market Daily, 10 (73), pp. 1–3.
   Google Scholar
• Green, G.A. (2008), A Quantitative Analysis of the Cost-Effectiveness of Project Types in the CDM Pipeline (Copenhagen: Institute of Food and Resource Economics, University of Cophenhagen; UNEP Risoe Centre).
   Google Scholar
• Grubb, M. (2011), ‘International Climate Finance from Border Carbon Cost Levelling’, Climate Policy, 11 (3), pp. 1050–7 doi: 10.1080/14693062.2011.582285
   Web of Science ®Google Scholar
• Haites, E. (2011), ‘Climate Change Finance’, Climate Policy, 11 (2011), pp. 963–9 doi: 10.1080/14693062.2011.582292
   Web of Science ®Google Scholar
• Harvey, D. (2003), The New Imperialism (Oxford: Oxford University Press).
   Google Scholar
• Harvey, D. (2005), A Brief History of Neoliberalism (New York: Oxford University Press).
   Google Scholar
• Harvey, D. (2010), The Enigma of Capital and the Crises of Capitalism (New York: Oxford University Press).
   Google Scholar
• Hepburn, C. (2009), ‘International Carbon Finance and the Clean Development Mechanism’, in D. Helm and C. Hepburn (eds), The Economics and Politics of Climate Change (London: Oxford University Press), pp. 409–29
   Google Scholar
• Hermann, H. and Matthes, F.C. (2012), Strengthening the European Union Emissions Trading Scheme and Raising Ambition: Facts, Measures and Implications (Berlin: Öko-Institut).
   Google Scholar
• Holm Olsen, K. (2007), ‘The Clean Development Mechanism's Contribution to Sustainable Development: A Review of the Litertaure’, Climatic Change, 84 (1), pp. 59–73. doi: 10.1007/s10584-007-9267-y
   Web of Science ®Google Scholar
• Hurrell, A. and Sengupta, S. (2012), ‘Emerging Powers, North-South Relations and Global Climate Politics’, International Affairs, 88 (3), pp. 463–84. doi: 10.1111/j.1468-2346.2012.01084.x
   Web of Science ®Google Scholar
• IIED (2012), The Eight Unmet Promises of Fast-start Climate Finance (London: International Institute for Environment and Development).
   Google Scholar
• International Monetary Fund (2013), Energy Subsiday Reform: Lessons and Implications (Washington, DC: IMF).
   Google Scholar
• IPCC (2007a), Contribution of Working Groups I, II and III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. Synthesis Report (Geneva: IPCC).
   Google Scholar
• IPCC (2007b), ‘Price Levels Required for Deep Mid-century Emission Reductions: The Wider Evidence’. Available from: http://www.ipcc.ch/publications_and_data/ar4/wg3/en/ch11s11-6-3.html#footnote17 [accessed 16 May 2013].
   Google Scholar
• IRIN (2008), Financial Crisis Could Cut Official Aid by 30% (New York: Integrated Regional Information Networks).
   Google Scholar
• Katz, C. (1998), ‘Whose Nature? Whose Culture?’ in B. Braun and N. Castree (eds), Remaking Reality: Nature at the Millennium (New York: Routledge), pp. 46–63.
   Google Scholar
• Kossoy, A. and Guigon, P. (2012), State and Trends of the Carbon Market 2012 (Washington, DC: World Bank).
   Google Scholar
• Kraiem, R. (2009), ‘Sectoral Crediting: Getting the Incentives Right for Private Investors’, in R.B. Stewart, B. Kingsbury and B. Rudyk (eds), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press), pp. 85–9
   Google Scholar
• Krukowska, E. (2012), ‘Carbon “Like Titanic” Sinking on EU Permit Glut’, Bloomberg, 30 March.
   Google Scholar
• Kruppa, M. (2011), ‘UN JI Panel to Discuss Tightening Carbon Credit Rules’, Carbon Market Daily, 7 (224), pp. 1–5.
   Google Scholar
• Kruppa, M. (2013a), ‘Polish Utility's CO2 Permit Shortfall Drops 38 Percent in 2012’, Carbon Market Daily, 10 (51), pp. 1–3.
   Google Scholar
• Kruppa, M. (2013b), ‘Weekly ERU Issuance Reaches 2.6 mln: U.N.’, Carbon Market Daily, 10 (69), pp. 1–5.
   Google Scholar
• Lecocq, F. and Ambrossi, P. (2007), ‘The Clean Development Mechanism: History, Status and Prospects’, Review of Environmental Economics and Policy, 1 (1), pp. 134–51. doi: 10.1093/reep/rem004
   Web of Science ®Google Scholar
• Li, T. (2007), The Will to Improve: Governmentality, Development, and the Practice of Politics (London: Duke University Press).
   Google Scholar
• Linacre, N., Kossoy, A. and Ambrossi, P. (2011), State and Trends of the Carbon Market 2011, (Washington, DC: World Bank).
   Google Scholar
• Lohmann, L. (2005), ‘Marketing and Making Carbon Dumps: Commodification, Calculation and Counterfactuals in Climate Change Mitigation’, Science as Culture, 14 (3), pp. 203–35. doi: 10.1080/09505430500216783
   Google Scholar
• Lohmann, L.e. (2006), ‘Special Issue: Carbon Trading: A Critical Conversation on Climate Change, Privatization and Power’, Development Dialogue – Special Issue, 48 (September 2006), pp. 1–360
   Google Scholar
• Lohmann, L. (2010), ‘Uncertainty Markets and Carbon Markets: Variations on Polanyian Themes’, New Political Economy, 15 (2), pp. 225–54. doi: 10.1080/13563460903290946
   Web of Science ®Google Scholar
• MacKenzie, D. (2009), ‘Making Things the Same: Gases, Emission Rights and the Politics of Carbon’, Accounting, Organizations and Society, 34 (3–4), pp. 440–55. doi: 10.1016/j.aos.2008.02.004
   Web of Science ®Google Scholar
• MacKenzie, D. (2010), ‘Constructing Carbon Markets: Learning from Experiments in the Technopolitics of Emissions Trading Schemes’, in A. Lakoff (ed.), Disaster and the Politics of Intervention (New York: Columbia University Press), pp. 130–48.
   Google Scholar
• Mansanet-Bataller, M., et al. (2010), ‘The EUA-sCER Spread: Compliance Strategies and Arbitrage in the European Carbon Market’, Mission Climat Working Paper 2010–6 (Mission Climat).
   Google Scholar
• Mansfield, B. (2007), ‘Privatization: Property and the Remaking of Nature-Society Relations’, Antipode, 39 (3), pp. 393–405. doi: 10.1111/j.1467-8330.2007.00532.x
   Web of Science ®Google Scholar
• Martell, A. and Volcovici, V. (2013), ‘Airline Industry Leans Toward Global Carbon Offset Scheme’, Euronews. Available from: http://www.euronews.com/business-newswires/1954374-airline-industry-leans-toward-global-carbon-offset-scheme/ [accessed 14 May 2013].
   Google Scholar
• Martinez-Alier, J. (2002), The Environmentalism of the Poor: A Study of Ecological Conflicts and Valuation (Northampton, MA: Edward Elgar).
   Google Scholar
• McAfee, K. (1999), ‘Selling Nature to Save It? Biodiversity and the Rise of Green Developmentalism’, Environment and Planning D: Society and Space, 17 (2), pp. 133–54. doi: 10.1068/d170133
   Web of Science ®Google Scholar
• McAllister, L.K. (2009), ‘The Overallocation Problem in Cap-and-Trade: Moving Toward Stringency’, Columbia Journal of Environmental Law, 34 (2), pp. 395–445.
   Google Scholar
• McCarthy, J. and Prudham, S. (2004), ‘Neoliberal Nature and the Nature of Neoliberalism’, Geoforum, 35 (3), pp. 275–83. doi: 10.1016/j.geoforum.2003.07.003
   Web of Science ®Google Scholar
• McGarrity, J. (2012), ‘CERs Plunge to New Low, Test 3 Euros’, Carbon Market Daily, 9 (138), pp. 1–4.
   Google Scholar
• McMichael, P. (2009), ‘The World Food Crisis in Historical Perspective’, Monthly Review, 61 (3), p. 32. doi: 10.14452/MR-061-03-2009-07_3
   Web of Science ®Google Scholar
• Meckling, J. (2011a), Carbon Coalitions: Business, Climate Politics, and the Rise of Emissions Trading (Cambridge, MA: MIT Press).
   Google Scholar
• Meckling, J. (2011b), ‘The Globalization of Carbon Trading: Transnational Business Coalitions in Climate Politics’, Global Environmental Politics, 11 (2), pp. 26–50. doi: 10.1162/GLEP_a_00052
   Web of Science ®Google Scholar
• Metz, B. (2009), ‘The Climate Financing Problem: Funds Needed for Global Climate Change Mitigation Vastly Exceed Funds Currently Available’, in R.B. Stewart, B. Kingsbury and B. Rudyk (eds), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press), pp. 42–7.
   Google Scholar
• Michaelowa, A. and Michaelowa, K. (2007a), ‘Does Climate Policy Promote Development?’ Climatic Change, 84 (1), pp. 1–4. doi: 10.1007/s10584-007-9266-z
   Web of Science ®Google Scholar
• Michaelowa, A. and Michaelowa, K. (2007b), ‘Climate or Development? Is ODA Diverted from its Original Purpose?’ Climatic Change, 84 (1), pp. 5–22. doi: 10.1007/s10584-007-9270-3
   Web of Science ®Google Scholar
• Miller, M. (1995), The Third World in Global Environmental Politics (Buckingham: Open University Press).
   Google Scholar
• Morris, D. (2012), Losing the Lead? Europe's Flagging Carbon Market (London: Sandbag Climate Campaign).
   Google Scholar
• Müller, B., Höhne, N. and Ellermann, C. (2009), ‘Differentiating (Historic) Responsibilities for Climate Change’, Climate Policy, 9 (6), pp. 593–611. doi: 10.3763/cpol.2008.0570
   Web of Science ®Google Scholar
• Narain, U. and van't Veld, K. (2008), ‘The Clean Development Mechanism's Low-hanging Fruit Problem: When Might it Arise, and How Might it be Solved?’ Environmental and Resource Economics, 40 (3), pp. 445–65.
   Google Scholar
• Neuhoff, K., et al. (2012), Banking of Surplus Emissions Allowances: Does the Volume Matter? (Berlin: German Institute for Economic Research).
   Google Scholar
• Newell, P. (2000), Climate Change: Non-State Actors and the Politics of the Greenhouse (Cambridge: Cambridge University Press).
   Google Scholar
• Newell, P. (2005), ‘Race, Class and the Global Politics of Environmental Inequality’, Global Environmental Politics, 5 (3), pp. 70–94. doi: 10.1162/1526380054794835
   Google Scholar
• Newell, P. (2009), ‘Varieties of CDM Governance: Some Reflections’, The Journal of Environment and Development, 18 (4), pp. 425–35. doi: 10.1177/1070496509347089
   Google Scholar
• Newell, P. and Paterson, M. (2010), Climate Capitalism: Global Warming and the Transformation of the Global Economy (New York: Cambridge University Press).
   Google Scholar
• Newell, P., Jenner, N. and Baker, L. (2009), ‘Governing Clean Development: A Framework for Analysis’, The Governance of Clean Development Working Paper Series No. 1, Norwich, Norfolk, UK (University of East Anglia).
   Google Scholar
• Oxfam (2012), The Climate 'Fiscal Cliff': An Evaluation of Fast Start Finance and Lessons for the Future (Oxford, UK: Oxfam).
   Google Scholar
• Paterson, M. (2012), ‘Who and What are Carbon Markets For? Politics and the Development of Climate Policy’, Climate Policy, 12 (1), pp. 82–97. doi: 10.1080/14693062.2011.579259
   Web of Science ®Google Scholar
• Paterson, M., et al. (2011), ‘The Micro Foundations of Global Climate Governance: An Analysis of the Transnational Emission Trading Network’, Princeton Conference on Research Frontiers in Comparative and International Environmental Politics, Princeton University.
   Google Scholar
• Pieterse, J.N. (2011), ‘Global Rebalancing: Crisis and the East-South Turn’, Development and Change, 42 (1), pp. 22–48. doi: 10.1111/j.1467-7660.2010.01686.x
   Web of Science ®Google Scholar
• Point Carbon (2012a), ‘CER Buyers Seek Contract Rejigs, Exits as Prices Collapse’, Point Carbon, 6 January.
   Google Scholar
• Point Carbon (2012b), ‘Analysts at Odds Over Supply Impact of Weak CER Prices’, Point Carbon, 9 January.
   Google Scholar
• Point Carbon (2012c), ‘Flood of U.N. Offsets “Underlines Need for Reform”', CDM and JI Monitor, 9 (12), pp. 1–6.
   Google Scholar
• Polanyi, K. (1957), The Great Transformation: The Political and Economic Origins of our Time (Boston, MA: Beacon).
   Google Scholar
• Potsdam Institute for Climate Impact Research and Climate Analytics (2012), Turn Down the Heat: Why a 4°C World Must be Avoided (Washington, DC: World Bank).
   Google Scholar
• Prudham, S. (2004), Knock on Wood: Nature as Commodity in Douglas-Fir Country (New York: Routledge).
   Google Scholar
• Reklev, S. (2013), ‘Coal Generation Falls to Record Lows in Australia’, Carbon Market Daily, 10 (86), pp. 5–6.
   Google Scholar
• Roberts, J.T. (2010), ‘Multipolarity and the New World (Dis)Order: US Hegemonic Decline and the Fragmentation of the Global Climate Regime’, Global Environmental Change, 21 (3), pp. 776–84. doi: 10.1016/j.gloenvcha.2011.03.017
   Web of Science ®Google Scholar
• Robertson, M. (2007), ‘Discovering Price in all the Wrong Places: The Work of Commodity Definition and Price under Neoliberal Environmental Policy’, Antipode, 39 (3), pp. 500–26. doi: 10.1111/j.1467-8330.2007.00537.x
   Web of Science ®Google Scholar
• Saurin, J. (2001), ‘Global Environmental Crisis as the “Disaster Triumphant”: The Private Capture of Public Goods’, Environmental Politics, 10 (4), pp. 63–84. doi: 10.1080/714000578
   Google Scholar
• Schroeder, M. (2009), ‘Utilizing the Clean Development Mechanism for the Deployment of Renewable Energies in China’, Applied Energy, 86 (2), pp. 237–42. doi: 10.1016/j.apenergy.2008.04.019
   Web of Science ®Google Scholar
• Schroeder, H. and Lovell, H. (2012), ‘The Role of Non-Nation-State Actors and Side Events in the International Climate Negotiations’, Climate Policy, 12 (1), pp. 23–37. doi: 10.1080/14693062.2011.579328
   Web of Science ®Google Scholar
• Secretary-General's High-level Advisory Group on Climate Finance. (2010), Report of the Secretary-General's High-level Advisory Group on Climate Change Financing (New York: United Nations).
   Google Scholar
• Šemeta, A. (2013), ‘The Robin Hood Tax Takes a Step Closer’, The Guardian, 21 February. Available from: http://www.guardian.co.uk/commentisfree/2013/feb/21/robin-hood-tax-step-closer [accessed 8 May 2013].
   Google Scholar
• Simon, G.L., Bumpus, A. and Mann, P. (2012), ‘Win-win Scenarios at the Climate-Development Interface: Challenges and Opportunities for Stove Replacement Programs through Carbon Finance’, Global Environmental Change, 22 (2012), pp. 275–87. doi: 10.1016/j.gloenvcha.2011.08.007
   Web of Science ®Google Scholar
• Smith, N. (1984), Uneven Development: Nature, Capital, and the Production of Space (Athens, GA: The University of Georgia Press).
   Google Scholar
• Smith, N. (2007), ‘Nature as Accumulation Strategy’, in L. Panitch and C. Leys (eds), Socialist Register 2007: Coming to Terms with Nature (London: Merlin Press), pp. 16–36.
   Google Scholar
• Spash, C. (2010), ‘The Brave New World of Carbon Trading’, New Political Economy, 15 (2), pp. 169–95. doi: 10.1080/13563460903556049
   Web of Science ®Google Scholar
• Sterk, W. and Wittneben, B. (2006), ‘Enhanding the Clean Development Mechanism Through Sectoral Approaches: Definititions, Applications and Ways Forward’, International Environmental Agreements: Politics, Law and Economics, 6 (3), pp. 271–87. doi: 10.1007/s10784-006-9009-z
   Google Scholar
• Stewart, R.B., Kingsbury, Benedict and Rudyk, B. (2009a), ‘Climate Finance for Limiting Emissions and Promoting Green Development: Mechanisms, Regulation, and Governance’, in R.B. Stewart, B. Kingsbury and B. Rudyk (eds), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press), pp. 3–14.
   Google Scholar
• Stewart, R.B., Kingsbury, B. and Rudyk, B. (2009b), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press).
   Google Scholar
• Streck, C. (2009), ‘Expectations and Reality of the Clean Development Mechanism’, in R.B. Stewart, B. Kingsbury and B. Rudyk (eds), Climate Finance: Regulatory and Funding Strategies for Climate Change and Global Development (New York: New York University Press), pp. 67–78.
   Google Scholar
• Sutter, C. and Parreño, J.C. (2007), ‘Does the Current Clean Development Mechanism (CDM) Deliver its Sustainable Development Claim? An Analysis of Officially Registered CDM Projects’, Climatic Change, 84 (1), pp. 75–90. doi: 10.1007/s10584-007-9269-9
   Web of Science ®Google Scholar
• Szabo, M. (2013), ‘Low CER Prices to Herald Supply Volatility: Analyst’, Carbon Market Daily, 10 (6), p. 3.
   Google Scholar
• Taylor, M. (2007), ‘Rethinking the Global Production of Uneven Development’, Globalizations, 4 (4), pp. 529–42. doi: 10.1080/14747730701695794
   Google Scholar
• The Economist (2010), ‘The Smoking Greenhouse Gun: An Alluring Trade in “Supergreenhouse” Gas is Coming Under Scrutiny’, The Economist, 2 September. Available from: http://www.economist.com/node/16944921 [accessed 10 February].
   Google Scholar
• The Economist (2013), ‘Bin It: Plans for a Transactions Tax Ought to be Dropped’, The Economist, 23 February. Available from: http://www.economist.com/news/leaders/21572205-plans-transactions-tax-ought-be-dropped-bin-it [accessed 10 May 2013].
   Google Scholar
• Twidale, S. (2011), ‘December CER Issuance Heads for 35 Million Mark’, Carbon Market Daily, 7 (255), pp. 1–4.
   Google Scholar
• Twidale, S. (2013), ‘Price Collapse Wipes $66 Billion off Value of CDM Market: Report'. Available from: http://www.pointcarbon.com/news/1.2376537 [updated 16 May 2013].
   Google Scholar
• UNEP Risoe Centre (2012), ‘CDM Projects by Type’. Available from: http://www.cdmpipeline.org/cdm-projects-type.htm [accessed 25 April].
   Google Scholar
• UNFCCC (2012), ‘CDM Project Cycle’. Available from: http://cdm.unfccc.int/Projects/diagram.html [accessed 26 March].
   Google Scholar
• United Nations Development Programme (2008), Human Development Report 2007–2008: Fighting Climate Change: Human Solidary in a Changing World (New York: UNDP).
   Google Scholar
• United Nations Economic Commission for Africa (2009), The Global Financial Crisis: Impact, Responses, and Way Forward (Addis Ababa: United Nations Economic Commission for Africa).
   Google Scholar
• Williams, M. (2005), ‘The Third World and Global Environmental Negotiations: Interests, Insitutions and Ideas’, Global Environmental Politics, 5 (3), pp. 48–69. doi: 10.1162/1526380054794826
   Google Scholar
• World Bank (2011), Mobilizing Climate Finance: A Paper Prepared at the Request of G20 Finance Ministers (Washington, DC: World Bank).
   Google Scholar
• Wynn, G. and Chestney, N. (2011), ‘Carbon Offsets Near Record Low, Worst Performing Commodity’, Reuters, 5 August.
   Google Scholar
• Zadek, S. (2011), ‘Beyond Climate Finance: From Accountability to Productivity in Addressing the Climate Challenge’, Climate Policy, 11 (3), pp. 1058–68. doi: 10.1080/14693062.2011.582288
   Web of Science ®Google Scholar
• Zelljadt, L. (2010), ‘Developing Countries and the Carbon Market: An Ambivalent Relationship’, Carbon and Climate Law Review, 2010 (1), pp. 101–3
   Google Scholar