Emissions trading schemes (ETS) incentivize polluters to reduce CO2 emissions through carbon pricing. ETS in China, South- Korea, Switzerland, the UK and California tend to target energy-intensive industries and can cover up to 80% of all greenhouse gas emissions. Most ETS, excluding South Korea, make polluters pay for the majority of their emissions by obliging them to buy a permit (rights) to emit more CO2 than the baseline, thereby encouraging green investment.
The Paris 2050 Targets are a set of initiatives to limit global warming to below 2 degree Celsius, with ambitious efforts to limit this to 1.5degree Celsius. Of 184 countries that pledged carbon reduction under the Paris Agreement, 75% of countries’ pledges were insufficient to meet the 2? target of . The fifth annual UNEP Report focuses on nations’ advanced strategies to adapt to climate change by researching Nature-Based Solutions, which aim to ensure a balance between society and sustaining biodiversity.
The CDM rewards developed countries who aid developing countries in their sustainable development, by issuing sustainable development projects with Certified Emissions Reductions (CER).