This paper draws information from Paper 4and Paper 5in the Climate Strategies Analytic
Support for Target-based Negotiations paper series, and other relevant
reference material, with a view to understanding what the combination of (1) countries
pledged targets in 2020, (2) their likely emissions anyway in 2020 and (3)
the foreseeable CER supply up to 2020, can tell us about demand and supply in
the international compliancecarbon market(s) in 2020.