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Resolution of the question "Who pays and how much?" will be a major determinant of any future international agreement on climate change.

New international market mechanisms play a fundamental role in creating both the space and incentives for greenhouse gas emission reductions. This commentary addresses the need for robust uses of international market mechanisms, particularly for Canada. A robust framework for market mechanisms within a future agreement could set the groundwork for a much broader shift in how development takes place at the most fundamental levels.