Opportunities and criticisms of voluntary emission reduction projects developed by Public Administrations: Analysis of 143 case studies implemented in Italy

The United Nations Framework Convention on Climate Change (UNFCCC) sets an overall framework for intergovernmental efforts to tackle the challenge posed by climate change. Besides the “flexibility mechanisms” defined by the Kyoto Protocol to lower the overall costs of achieving their emissions targets, The Voluntary Green House Gases (GHG) reduction projects can have a lead role in GHG reduction in “non Emissions Trading System ETS sectors”. Nowadays, the voluntary market is characterised by critical aspects, such as fragmentation, lack of accounting, monitoring and validation rules that have led to the low spread of voluntary emission reduction projects developed by local authorities in the European Union despite their high potentiality.