Models for Accountability to Combat Non-Compliance in Carbon Trading Open Access
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In order to successfully implement a worldwide carbon trading market, regulators must be aware of and adequately address instances of non-compliance in trading systems. Methods of accountability must be in place because destabilization of the market threatens the security of participating countries. Non-compliance comes in two forms, criminal and civil. Public resources should go toward prosecuting criminal violations. Civil violations can be addressed through the application of contract law. The goal of this paper is to propose at least one viable model of accountability for carbon trading. This paper proposes the creation of a Carbon Trading Uniform Commercial Code (CTUCC), modeled after the United States' Uniform Commercial Code (UCC) and the United Nations Convention on Contracts for the International Sale of Goods (CISG), to be adopted worldwide to ensure uniformity, reliability, and integrity in carbon trading systems.