As plans for the establishment of emissions trading systems (ETS) emerge in various developing countries, prospects for creating a global carbon market seem to finally get in reach. This paper analyses the state of discussion in six developing countries: Brazil, China, India, Kazakhstan, Mexico, and South Korea. The paper concludes that even though South Korea seems to be firmly on track and Chinese announcements also give reason for optimism, developing countries’ schemes are at the moment not far enough evolved to come to definite conclusions if links with e.g. the EU ETS are possible. It can also be assumed that for the time being climate policy in most developing countries will mainly revolve around non-ETS policies and measures. Therefore, while the moves towards emission trading should be supported, international climate cooperation should not neglect improving the CDM and supporting transformational policies and measures through fund-based instruments.
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