Safeguards for Carbon Markets – Prioritizing Local Communities’ Tenure Rights
While emissions trading already began in the late 1980s and early 1990s, carbon markets can officially be traced back to the Kyoto Protocol of 1997. The Kyoto Protocol introduced market-based mechanisms allowing countries to trade emission allowances and invest in emission reduction projects overseas. On this basis, the European Union Emissions Trading Scheme (EU ETS) was launched in 2005, pioneering the introduction of large-scale, regulated carbon trading systems.