Marion Vieweg, Michiel Schaeffer, Claudine Chen, Johannes Gütschow, Bill Hare, Marcia Rocha (2012)

There is a vast surplus of units in Kyoto’s cap-and-trade system. If no solution for the carry-over of this surplus from commtment period to commitment period is found, countries that have put forward a target for the second commitment period (CP2) may be under no pressuure to deviate from business-as-usual (BAU) emissions until 2026.