Reducing Transaction Costs of the Clean Development Mechanism

This report analyzes the transaction costs of greenhouse gas emissions trading under the Kyoto Protocol and its Clean Development Mechanism using current knowledge and data

available as the Protocol enters into force. The report is presented to the United Nations

Division of Sustainable Development in the Department of Social and Economic Affairs

(UNDESA) and represents work conducted by Columbia University’s Environmental MPA

Workshop from January to April 2005.

REPORT