It aims to be:
- effective - to deliver the Objective of the Climate Convention: to "to achieve ... stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system ... within a time frame sufficient to allow ecosystems to adapt naturally to climate change, to ensure that food production is not threatened and to enable economic development to proceed in a sustainable manner."
- efficient - using auction, open markets, targetted expenditures and appropriate regulation, while minimising accounting and compliance overheads, to provide 'the gain without the pain'.
- equitable - addressing the needs of poor people and poor countries, and mitigating the impacts of climate change for the benefit of both present and future generations.
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