Despite some modest steps forward, the UN Climate Change Conference in Doha was a reminder of the slow-paced nature of international negotiations. Annual conferences like these aim to achieve international agreement on reducing the man-made emissions causing climate change, but 20 years after the launch of the U.N. climate process, global emissions continue to rise.
Progress is being made at the domestic level, however, and in many cases, the policy of choice is emissions trading. One of the major challenges going forward is linking these emerging trading systems to achieve the efficiencies of an integrated global greenhouse gas market. The European Union and Australia have announced plans to link their trading systems, and California and Quebec are working toward linking theirs.