Carbon trading has become the central pillar of international efforts to halt climate change. It is a term that most people will recognise, but far fewer will have a good understanding of what it means and how it is supposed to work. Fewer still will feel confident to judge whether it is a success or not.
As an accessible introduction to carbon trading, FERN published Trading carbon: how it works and why it is controversial. This summary version provides a synopsis of the key points of that book. We would encourage readers to refer to the full version for references, more detailed explanations, examples and evidence.