This bulletin provides an overview of recent discussions about the impact of corruption on environmental governance, with a focus on emissions trading. It reviews new definitions and the latest corruption assessment methodologies in order to illuminate the broader challenges faced by GHG trading mechanisms and climate finance.
Why is this issue important?
The trading of greenhouse gas (GHG) emissions has recently emerged as one of the most dynamic and promising areas of global environmental governance. According to the latest assessment by the International Panel on Climate Change (IPCC, 2007), global GHG emissions must peak, if not decline, by 2015 in order to limit global mean temperature increases to 2°C above pre-industrial levels. The Panel predicted that without a reduction of GHG emissions, the globe would experience an overall temperature rise of 6.4°C by the end of this century, which is a catastrophic scenario. [read the full story]