Abstract: Climate change has been on the international policy agenda since the UNFCCC was agreed in 1992. The Kyoto Protocol was the UNFCCC’s answer to the call for measures and has been effective in establishing an international carbon market and reducing emissions in some countries and regions. A follow-up of the Kyoto Protocol is currently under discussion. In theory, the economically most efficient form of a global agreement is a global cap-and-trade agreement. It remains highly uncertain whether an effective global climate regime fully founded on another cap-and-trade type of agreement is politically feasible. In addition, it has been suggested that a new agreement would have to be more effective in promoting technology development and diffusion. This report explores the compatibility of a cap-andtrade regime with a different form of international agreements to address climate change: technology- oriented agreements (TOAs).
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