From Top-Down to Bottom-Up Climate Policy: New Challenges in Carbon Market Design


Jonas Monast


Faculty editor: Tim Duane
Publication: Journal of Climate & Energy Law
Volume: 8
Start Page: 175
Month: June
Year: 2017
Type: Article


This Article explores the shift from top-down to bottom-up approaches to carbon market design, focusing on three strategies that have emerged since 2009: the California Cap-and-Trade Program, the Clean Power Plan, and the UNFCCC process. The Article then examines the prospects for broad multilateral markets to emerge under a bottom-up approach and identifiesthree pathways to streamline market design choices: a coordinated approach; a dominant actor approach; and a common elements approach.