Following the Earth Summit in Rio de Janeiro in 1992, countries took up the difficult task of finding a common approach that would slow down the build-up of greenhouse gas emissions in the atmosphere and delay changes to the planet's climate. A widespread concern among many of the participants in the newly formed United Nations Framework Convention on Climate Change was that the emission reductions needed to significantly affect climate change would cost so much that it could jeopardize the chances of a coordinated international solution. To address this concern, several flexible mechanisms were designed, including the M.While many applaud the M, others are concerned with its performance and achievements, and whether or not it will be continued beyond 2012. Critics argue, among other things, that it has not delivered on the sustainable development objective for which it was established and that projects are unevenly distributed, both geographically and sectorally.Much analysis is available on M, but very little comprehensive analysis, addressing various aspects of M is available. With a major decision for its continuation, a multi-dimensional analysis would be needed. This book is about the economic assessment of certain (not certain) M performances, and its future sustainability and trajectory.Contents:Clean Development Mechanism: Past, Present, and FutureAn Updated Review of Carbon Markets, Institutions, Policies, and ResearchThe Activities Implemented Jointly Pilots: A Foundation for Clean Development Mechanism?The Cost of Mitigation Under the Clean Development MechanismDiffusion of Kyoto's Clean Development MechanismWhy Adoption of the Clean Development Mechanism Differs Across Countries?Clean Development Mechanism as a Cooperation MechanismWhy So Few Agricultural Projects in the Clean Development Mechanism?ConclusionReadership: Graduates in economics, engineering, water law, international relations and practitioners in water resource management, international water law and water policies.