I am reading a book by Oliver Tickell (2008) on "Kyoto2-How to manage the global greenhouse",Zed Books: London, ISBN 978-1-84813-025-8 pb.
Oliver Tickell frequently writes about the environment, health and solutions to the world's problems. In Kyto2, Oliver argues that "...the Kyoto Protocol has created a whole new spectrum of market failures...First among the Protocol's failures is that its key objective - to reduce greenhouse gas emissions - is unmet..." p.1
Oliver presents us with a strikingly original solution. He exposes the flaws in current approaches, especially on the trading of greenhouse gases on a global auction. He envisions a fairer and more effective system.
If you need to know on the CDM [Clean Development Mechanism], EUETS [EU's Emissions Trading Scheme], PIGGS [ Potent Industrial Greenhouse Gases] and CCS [Carbon Capture and Storage, to name a few, then I would like to recommend you read this book.
In short this book highlights the political and economic games that the developed nations [the US in particular] are playing to avoid the ratification of the Kyoto Protocol by giving various lame excuses. The CDM, for that matter is becoming highly commercialised, addressing the mechanism in the auction of Carbon Credit rather than the basic - how to urgently reduce the gases before it is too late! Not on how to trade the greenhouse around the globe- pushing the problems around.
A good read.